China has brushed off a report that it is threatening to block a high-profile port deal involving two ports at either end of the Panama Canal, unless a Chinese state-owned enterprise is given a stake in the agreement.
At a regular press briefing on Friday, Chinese Foreign Ministry spokesperson Lin Jian was asked about a report by The Wall Street Journal (WSJ), which cited unnamed sources claiming that Beijing is pressuring parties in a $22.8 billion sale of international ports to include COSCO, China’s state-owned shipping company, as a stakeholder.
CK Hutchison, a Hong Kong-based conglomerate, said in March it has agreed to sell its 80 percent stake in 43 container ports across 23 countries—including two Panama Canal ports—to a consortium led by American asset management giant BlackRock and the Mediterranean Shipping Company (MSC), based in Switzerland and controlled by the family of Italian billionaire Gianluigi Aponte. The deal still requires approval from Beijing….
China Says It’s ‘Not Aware’ of Report It Threatens to Block Panama Port Deal
