Controversy Over CK Hutchison's Panama Ports Sale

A controversial plan by Hong Kong's CK Hutchison to sell its Panama Canal ports to a BlackRock-led group has sparked criticism in China. A deleted social media post highlighted China's national interests and hinted at growing opposition. The market regulator plans to review the transaction.

A recent social media uproar has placed Hong Kong conglomerate CK Hutchison at the center of a contentious deal involving the sale of its ports located near the Panama Canal. The buyer, a group led by BlackRock, would acquire ports deemed pivotal to China's national interests.

The post, initially shared by a CCTV-linked account on Weibo, voiced concerns that the transaction could be perceived as detrimental to China's national security, stating it was "tantamount to handing a knife to an opponent." The post was removed shortly after it appeared.

This incident signifies escalating resistance to the sale within China. On Friday, the market regulator announced a review of the deal, and sources informed Reuters of a delay in the sale process by CK Hutchison, though the transaction remains active.

(With inputs from agencies.)