The Chinese Communist Party has been furious over Hong Kong billionaire Li Ka-shing's deal to sell Panama Canal ports to a consortium of investors that includes BlackRock, following pressure from President Trump as the US moves to bolster hemispheric defense—a massive security effort in which Panama plays a critical role.
A new report from the South China Morning Post said Friday morning that Li's flagship CK Hutchison Holdings, "will not go ahead with the expected signing of a deal next week to sell its two strategic ports at the Panama Canal ... with Beijing saying it will launch an antitrust probe into the sale."
There were multiple reports this week that Beijing was tightening the screws on Li's CK Hutchison to stop the sale to BlackRock next week.
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