Li family accused of betrayal in Hutchison terminal sale

Chinese state media Ta Kung Pao has accused the owners of CK Hutchison of betraying the interests of the Chinese people, following the company’s announcement that it would sell its international terminal portfolio to a consortium of Blackrock and MSC subsidiary TiL.

Last week’s announcement that the US$22.8 billion deal was agreed in principle did not elicit an immediate response from Chinese authorities, however, Ta Kung Pao was demining in its assessment of the “spineless grovelling which neglected national interests and betrayed and sold out all Chinese people.”