Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Globe and Mail, The (Toronto, Canada)]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Globe and Mail, The
was tapped by Panamanian authorities to temporarily take over the operation of two critical ports at both ends of the Panama Canal from the Hong Kong conglomerate. 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
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- 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 [Yahoo! Finance Canada]Yahoo! Finance Canada
- Hong Kong's CK Hutchison warns of legal action over Panama Canal ports [Yahoo! Finance]Yahoo! Finance
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