Panama Canal ports deal a boost for CK Hutchison but worrying for Hong Kong

HONG KONG – The planned sale of a port stake in the Panama Canal by a conglomerate owned by Hong Kong’s richest man Li Ka Shing shields the city from a brewing geopolitical storm, but could have “unintended consequences” for its role as a super-connector between China and the rest of the world.

CK Hutchison on March 4 said it is selling a majority stake in its lucrative port business – including assets on both ends of the vital waterway for global trade – to a consortium led by US investment giant BlackRock for US$22.8 billion (S$30.5 billion).

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