The Wall Street Journal

CK Hutchison Shares Drop After Beijing Signals Unhappiness Over Panama Ports Deal

The deal came after President Trump raised the Panama ports as a security concern because of their connection to China

The agreement worth $22.8 billion will result in the sale of most of CK Hutchison’s port businesses outside China.
The agreement worth $22.8 billion will result in the sale of most of CK Hutchison’s port businesses outside China. Photo: bobby yip/Reuters

Beijing signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium, sending shares in the Hong Kong-based company sharply lower.

A commentary by Chinese state-owned Hong Kong newspaper Ta Kung Pao criticizing the deal was republished by the joint official website of the Chinese Communist Party’s Hong Kong and Macao Work Office and the State Council’s Hong Kong and Macao Affairs Office on Thursday. The piece was also reposted by China’s liaison office in Hong Kong.

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