(Reuters) -China's foreign ministry has asked all parties involved in CK Hutchison's planned sale of most of its ports operations to a BlackRock-led consortium to "act prudently," state news agency Xinhua reported on Monday. The sale by the Hong Kong conglomerate, which contains two ports adjacent to the strategically important Panama Canal, has become highly politicised amid intensifying U.S.-Sino trade tensions. The Wall Street Journal, citing people familiar with the matter, reported on April 16 that the MSC shipping empire, a part of the BlackRock consortium, has held discussions on moving ahead with the bulk of the deal while disputes over the two Panama ports are resolved. "We have taken note of relevant reports," foreign ministry spokesperson Guo Jiakun told a regular press briefing, according to Xinhua. The spokesperson also urged the parties to maintain full communications with the relevant Chinese departments, the report added. China's top market regulator had also responded to the Wall Street Journal report on Sunday, saying it was paying close attention to the deal, and that the parties should not try to avoid an antitrust review. Tycoon Li Ka-shing's CK Hutchison announced last month it would sell its 80% holding in the ports business, which encompasses 43 ports in 23 countries. The business has an enterprise value of $22.8 billion, including debt. CK Hutchison did not immediately respond to a Reuters request for comment. (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Maju Samuel) View Comments
China pushes for 'prudence' on CK Hutchison's ports deal, Xinhua reports
You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more
Start Your Free Trial Now!Download Free Report – Explore 3 Stock Ideas & Industry Insights
Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.
All investments involve risk—consider independent advice before making any investment decisions.
View 3 Research ReportsThis information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.
Please wait processing your request...