As Panama and the United States attempt to mend ties, reports are emerging that China’s antitrust regulator will be reviewing the sale of two ports on the Panama Canal by Hong Kong’s CK Hutchison. Earlier this year, the Hong-Kong-based firm sold the ports to a consortium led by BlackRock, drawing eyebrows from China.
According to The Financial Times, the planned sale was part of a $22.8 billion deal for 43 ports around the world. However, the deal sparked criticism and scepticism in China. Not only this, CK Hutchison has already been warned to “think twice” about selling to a group that includes investors from American firms like BlackRock and Global Infrastructure Partners.
In a published comment on its website on Friday, China’s State Administration for Market Regulation said that it was aware of the deal and would “review it in accordance with the law to protect fair competition in the market and safeguard the public interest”.
China questions the deal
The department’s remarks on the matter came in response to questions about the Panama ports deal from Beijing-backed newspaper Ta Kung Pao in Hong Kong. The comments were from an anti-monopoly division of the department.
Content retrieved from: https://www.firstpost.com/world/china-to-probe-blackrock-deal-to-buy-panama-canal-ports-from-hong-kong-based-firm-13875570.html.
