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0China Amplifies Rebuke of Li Ka-shing’s Panama Port Deal With BlackRock
March 14, 2025, Bloomberg
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CK Hutchison Holdings Ltd. shares plunged Friday after China’s top office on Hong Kong affairs reposted a sharp attack on the conglomerate’s decision to appease President Donald Trump by selling its stake in Panama ports.
The commentary that the Hong Kong and Macau Affairs Office posted on its website originally appeared in the Ta Kung Pao newspaper and warned companies to be very careful about which “side they should stand on.”
It said that social media users have accused the conglomerate founded by billionaire Li Ka-shing of “spineless groveling,” ignoring China’s interests and “selling out all Chinese people” in the quick deal announced last week.
CK Hutchison’s shares fell as much as 6.7% Friday morning, the most since September 2022, highlighting investor concerns that Beijing might try to intervene in the deal. Li’s company stands receive cash proceeds of more than $19 billion if the transaction goes through, roughly equivalent to the company’s market value before the deal was announced.
