China tells state firms to halt deals with Li Ka-shing-linked businesses, Bloomberg News reports
27/03/2025 03:17
March 27 (Reuters) - China has instructed state-owned firms to pause new deals with businesses linked to Hong Kong billionaire Li Ka-shing and his family after his plan to sell two ports in Panama to a BlackRock-led consortium, Bloomberg News reported on Thursday, citing people familiar with the matter. CK Hutchison, the telecoms-to-retail conglomerate 0001.HK owned by Li, has been caught in China's crosshairs in a highly politicised deal with the BlackRock-led BLK.N group, which includes selling assets near the strategically important Panama Canal. The deal is expected to garner the firm more than $19 billion in cash. (Reporting by Surbhi Misra in Bengaluru; Editing by Christian Schmollinger) ((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))