China halts the sale.
Hong Kong conglomerate CK Hutchison, led by tycoon Li Ka-shing, will not sign a deal next week to sell its two strategic ports at the Panama Canal to a BlackRock-led group, the South China Morning Post reported on Friday.
The deal was expected to be signed on April 2, according to the sale announcement made on March 4. It is understood the situation does not mean the deal has been called off, the South China Morning Post added, citing the source.
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Pro-Beijing Hong Kong newspaper Ta Kung Pao said in an editorial piece on March 21 that the transaction should to be scrapped as the deal is a “perfect cooperation” with the U.S. strategy to contain China.