5 months ago
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A Hong Kong-based company has agreed to sell most of its stake in two key ports on the Panama Canal to a group led by US investment firm BlackRock.
The sale comes after weeks of complaining by President Donald Trump that the canal is under Chinese control and that the US should take control of the major shipping route.
The BBC is reporting that through a subsidiary, CK Hutchison Holding operates ports at the Atlantic Ocean and Pacific Ocean entrances to the canal.
It said Tuesday it would sell its interests as part of a deal worth almost US$23 billion.
CK Hutchison, founded by Hong Kong billionaire Li Ka-shing, is not owned by the Chinese government. But its base in Hong Kong means it operates under Chinese financial laws.
It has operated the ports since 1997.
English (US) ·