The Chinese Cosco company should have a part in the Blackrock and MSC transaction, otherwise the sale of 43 ports will be locked, says Beijing.
China threatens to hinder the sale of 43 ports belonging to Hong Kong CK Hutchison if the navigable company COSCO will not have a part in the Blackrock and MSC transaction. It reports about it Wall Street Journal.
Chinese officials have warned Blackrock, MSC and CK Hutchison that Beijing could hinder the international sales of ports without Cosco’s participation.
The $ 22.8 billion transaction provides for the sale of 80% of Hutchison’s properties in 43 ports located in 23 countries.
In May, Hutchison confirmed that the MSC – one of the leading transportation operators of the world container – filled the customers’ consortium.
According to the WSJ, the parties are not likely to end the final agreement until July 27 – the end date of exclusive negotiations. All parties who are said to do not exclude Cosco’s participation.
Beijing considers dealing with strategic because of its potential influence on control over global sea routes, especially around the Panama canal.
The deal also provoked interest from US President Donald Trump.
As you know, Blackrock agreed to buy two major ports on the Panama Channel for $ 22.8 billion.
Remember that Donald Trump returned in December 2024 who threatened Panama to choose the Panama channel if the country did not stop removing excess, in his opinion, fee. Later, the Panama leader said the Panama channel would continue to belong to his country.
China urged to check the sale of ports on the Panama channel
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.