China pushes for 'prudence' on CK Hutchison's ports deal, Xinhua reports
(Reuters) -China's foreign ministry has asked all parties involved in CK Hutchison's planned sale of most of its ports operations to a BlackRock-led consortium to "act prudently," state news agency Xinhua reported on Monday.
The sale by the Hong Kong conglomerate, which contains two ports adjacent to the strategically important Panama Canal, has become highly politicised amid intensifying U.S.-Sino trade tensions.
The Wall Street Journal, citing people familiar with the matter, reported on April 16 that the MSC shipping empire, a part of the BlackRock consortium, has held discussions on moving ahead with the bulk of the deal while disputes over the two Panama ports are resolved.
"We have taken note of relevant reports," foreign ministry spokesperson Guo Jiakun told a regular press briefing, according to Xinhua.
The spokesperson also urged the parties to maintain full communications with the relevant Chinese departments, the report added.
China's top market regulator had also responded to the Wall Street Journal report on Sunday, saying it was paying close attention to the deal, and that the parties should not try to avoid an antitrust review.
Tycoon Li Ka-shing's CK Hutchison announced last month it would sell its 80% holding in the ports business, which encompasses 43 ports in 23 countries. The business has an enterprise value of $22.8 billion, including debt.
CK Hutchison did not immediately respond to a Reuters request for comment.
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