BlackRock's Fink made Trump happy with Panama Canal deal. The cost may be an unhappy China. [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
BlackRock ( BLK ) CEO Larry Fink orchestrated the Panama Canal port takeover that made President Trump happy, but the cost may be an angry Xi Jinping. The Wall Street Journal reported this week that the Chinese leader is not happy with a $22.8 billion deal giving a BlackRock-led investment coalition control of two key ports on either end of the vital shipping lane currently owned by Hong Kong conglomerate CK Hutchison. CK Hutchison, which is controlled by the family of 96-year-old Hong Kong billionaire Li Ka-shing, didn't seek preapproval from Chinese government leadership, according to the Wall Street Journal. What's more, Chinese leaders hoped to use the ports as a bargaining chip with the Trump administration as part of larger talks between the two countries, the Wall Street Journal reported. Other signs of displeasure emerged in articles and commentary published in pro-Beijing newspaper Ta Kung Pao, arguing that Chinese ships would now face restrictions in the canal and a
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