The shares of CK Hutchison on the Hong Kong Stock Exchange saw a decrease of 3.65% around noon local time (05:00 in Lisbon).
The fluctuations in CK Hutchison’s stock are linked to reports suggesting a potential delay past Wednesday for the signing of the agreement to sell the Panamanian ports of Balboa and Cristobal, along with 41 other ports controlled by the group in over 20 countries.
The transaction, valued at approximately 23 billion dollars (about 21.258 billion euros), involves transferring the ports to a consortium led by U.S. asset manager BlackRock.
The deal was described by U.S. President Donald Trump as a “retrieval” of the Canal from what he labeled as “Chinese control” of the infrastructure.
On Friday, China’s securities regulator announced a review of the agreement “to protect fair market competition and safeguard the public interest.”
An account affiliated with China’s state television CCTV compared the agreement to “handing your rival a knife” in a social media post that was deleted shortly after, which the international press interpreted as a new warning from Beijing through official channels.
Hong Kong newspapers, viewed as pro-Beijing, have previously warned that companies collaborating with the U.S. “will have no future, regardless of the business and money made,” and demanded the cancellation of the sale for “harming national security.”
The U.S. State Department stated on Friday that it was aware of Beijing’s dissatisfaction with the agreement and expressed no surprise.
With 145 days allocated to finalize the agreement terms, it remains uncertain whether the signing will merely be postponed or ultimately canceled. If this period lapses, CK Hutchison will regain the right to sell the assets to other potential buyers.
Analysts have described the deal as a lucrative move by veteran entrepreneur Li Ka-shing, the wealthiest man in the former British colony and the eighth richest in Asia, while also being a gesture to appease Trump, a factor that has caused discontent among Chinese authorities.
For many years, Li was seen as a close figure to Beijing due to favorable relations with Chinese leaders like Deng Xiaoping (1978-1989) and Jiang Zemin (1989-2002). However, international media note that in recent years, particularly following increased Chinese control over Hong Kong after the 2019 protests, the relationship with the central government has soured.
