China may gain greater control of Panama Canal after BlackRock deal misses deadline [FOX News]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: FOX News
China may soon gain greater influence over the Panama Canal following the collapse of a proposed deal between U.S.-based BlackRock and Hong Kong's CK Hutchison, which had initially sparked tensions with Beijing. The original agreement would have transferred control of dozens of international ports — including two in Panama — to a consortium involving BlackRock. The deal was reportedly welcomed by former President Donald Trump, who voiced support for reducing Chinese influence over the canal and even floated the idea of the U.S. "taking back" the strategic waterway. However, Beijing pushed back. China advocated for state-owned shipping giant Cosco to be included in the transaction, signaling its desire for a direct stake, not just an indirect one through the Hong Kong-based Hutchison, in the canal's operations. Amid mounting pressure from China and the threat of an anti-monopoly investigation, CK Hutchison announced Monday that the exclusive negotiation window with BlackRock had
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