Beijing halts deal to sell two Chinese ports in Panama Canal to US company
Washington, March 31 (Hibya) – According to CNN, Chinese authorities have suspended an agreement that would have transferred two Chinese ports in the Panama Canal to US investment fund BlackRock.
The agreement was expected to be signed next week. BlackRock was set to acquire a controlling stake in Hong Kong-based CK Hutchison, which holds interests in 43 ports around the world.
The deal has now been blocked by China’s antitrust regulators.
The report notes that such a transfer of ownership was seen as “a way to reduce tensions in the region” following threats by US President Donald Trump to take back control of the Panama Canal.
The Financial Times had earlier reported that a US company would acquire the two main ports of the canal.
According to statements from US investors, CK Hutchison intended to sell operations to a consortium that includes BlackRock, Global Infrastructure Partners and Terminal Investment.
Meanwhile, the President of Panama denied claims that the US is regaining control of the Panama Canal.
Panama’s President Jose Raul Mulino said: “Trump is lying. The Panama Canal is not in the process of being returned, and this is certainly not a goal discussed in our talks with Minister Rubio or anyone else.”
British News Agency
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