A deadline for exclusive talks on a US$23 billion sale of global port stakes by Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings passed without a deal on Sunday, with analysts expecting complex negotiations to be extended amid intense US-China geopolitical rivalry.
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The controversial transaction involved CK Hutchison selling stakes in 43 ports, including two at either end of the Panama Canal, to a consortium led by Terminal Investment Limited, an affiliate of the world’s largest container line, MSC, and American asset manager BlackRock.
The July 27 deadline was set 145 days from the company’s March 4 exchange filing that first announced the exclusive negotiation period.
Shipping and legal experts earlier told the Post that they were not optimistic the deal would be signed in its original form by Sunday, saying it could be subject to substantial changes given the political headwinds and regulatory hurdles in both Panama and mainland China.
By midnight on Sunday, Hutchison had not disclosed any information on the deal.
Amid the ongoing trade tensions, a high-level American business delegation was expected to visit Beijing this week, the Post reported exclusively. Sources said the trip would be organised by the US-China Business Council.
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