China Suspends BlackRock’s Acquisition of Panama Port

By Rishav Chatterjee

March 28 (Reuters) – CK Hutchison, the Hong Kong-based conglomerate helmed by billionaire Li Ka-shing, is reportedly not moving forward with a deal to sell its two key ports at the Panama Canal to a group led by BlackRock. According to the South China Morning Post, this decision comes just days before the anticipated signing on April 2.

while it seems that this delay doesn’t mean the deal is off entirely, sources suggest that tensions are brewing.Both CK Hutchison and BlackRock have yet to respond to inquiries from Reuters regarding this matter. The situation has drawn criticism from Chinese officials, while U.S. President Donald Trump has expressed support for regaining control over such an essential maritime route.

CK Hutchison operates two of five ports near the Panama Canal—an area crucial for approximately 3% of global maritime trade.The company first secured rights to these ports in 1998 and had its concession extended for another quarter-century in 2021.

This potential sale has placed CK Hutchison in a politically charged habitat as it navigates relations with both china and Western interests. the transaction could net over $19 billion for the firm but faces backlash domestically; pro-Beijing media outlet Ta Kung Pao recently argued that proceeding with this sale would align too closely with U.S. efforts aimed at curbing China’s influence.

Adding fuel to the fire, reports surfaced earlier this week indicating that Chinese authorities have advised state-owned enterprises against engaging in new agreements involving li Ka-shing or his family’s business ventures.

while CK Hutchison’s plans might potentially be on hold for now, they reflect broader geopolitical tensions and highlight how international business dealings can become entangled in national strategies—especially when they involve critical infrastructure like ports at one of the world’s busiest waterways.

(Reporting by Rishav Chatterjee and Roshan Thomas in