Hong Kong billionaire to sell Panama Canal ports to US firm
A Hong Kong-based company has agreed to sell most of its stake in two key ports on the Panama Canal to a group led by US investment firm BlackRock. The sale comes after weeks of complaining by President Donald Trump that the canal is under Chinese control and that the US should take control of the major shipping route. Through a subsidiary, CK Hutchison Holding operates ports at the Atlantic Ocean and Pacific Ocean entrances to the canal. It said Tuesday that it would sell its interests as part of a deal worth $22.8bn (£17.8bn). CK Hutchison, founded by Hong Kong billionaire Li Ka-shing, is not owned by the Chinese government. But its base in Hong Kong means it operates under Chinese financial laws. It has operated the ports since 1997. The deal includes a total of 43 ports in 23 […]