Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
Panama's Supreme Court ruled in late January that the concession held by a subsidiary of CK Hutchison to operate the two ports on the Panama Canal was unconstitutional. A subsidiary of Denmark-based A.P. Moller-Maersk would be operating the ports in a transitional phase, Panamanian authorities said earlier, until a new concession can be bid and awarded. The saga surrounding the two Panama ports is part of a broader rivalry between the U.S. and China, with the Central American country caught in between . After U.S. President Donald Trump alleged last year that China is “running the Panama Canal,” CK Hutchison was expected to sell the two ports to a consortium that includes U.S. investment firm BlackRock. But that had triggered Beijing's quick intervention, which had then stalled the deal The January ruling by Panama's Supreme Court added further uncertainties to CK Hutchison's plans to sell the two ports. Last week, the Hong Kong company said that it “strongly disagreed” with the
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News
- Trump invites Latin American leaders for a summit in Florida, ahead of his trip to China [Los Angeles Times (CA)]Los Angeles Times
- Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Los Angeles Times (CA)]Los Angeles Times
- Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Yahoo! Finance]Yahoo! Finance
- Billions In Chinese Investment To Flee Panama - Beijing Livid Over Canal Ports Decision [zero hedge]zero hedge