Washington is unsurprised over Beijing’s discontent about plans by Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings to sell its two Panama ports, the US State Department has said, after a Chinese market regulator revealed it will launch an antitrust investigation into the deal.
“We are aware of the comments made by China. It’s also no surprise that the [Communist Party of China] is upset at this acquisition, which will reduce their control over the Panama Canal area,” department spokeswoman Tammy Bruce told a media briefing on Friday.
A source earlier told the Post that CK Hutchison would not go ahead with the expected signing of a deal next Wednesday to sell the two ports to a consortium led by US investment firm BlackRock.
The sale of CK Hutchison’s two ports at each end of the Panama Canal is part of a US$23 billion deal to sell 43 ports spread over 23 countries to the BlackRock-led consortium, with the Hong Kong company originally expected to pocket US$19 billion.
China’s State Administration for Market Regulation said on Friday that it was looking into the deal, after Hong Kong-based, pro-Beijing media Wen Wei Po and Ta Kung Pao questioned whether the deal required approval via an antitrust review.
A spokesman from the market regulator said it would review the deal in accordance with the law to ensure fair competition in the market and to safeguard public interest.
Comments are closed.