Brief by Shorts91NewsDesk / 01:47pm on 05 Mar 2025,Wednesday Business
A Hong Kong-based firm, CK Hutchison, has agreed to sell its majority stake in two key Panama Canal ports to a BlackRock-led group in a $22.8B deal. The move follows pressure from former US President Donald Trump, who argued that Chinese influence over the canal poses a national security threat. The deal involves 43 ports globally but requires Panamanian approval. Panama, which took full control of the canal in 1999, rejects US claims, with President Mulino reaffirming its sovereignty. CK Hutchison insists the sale is purely commercial. BlackRock, alongside Swiss firm Terminal Investment Limited, will assume ownership amid ongoing geopolitical tensions over control of the vital trade route.
