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Hong Kong firms sells major Panama Canal ports to US firm after Trump pressure

March 5, 2025
Source: news.sky.com news.sky.com
News Snapshot:
Two major Panama Canal ports have been sold from their Hong Kong owner to a consortium including American multinational investment company BlackRock. It comes after US President Donald Trump expressed a desire for America to "take back" the key shipping lane from alleged Chinese control. Hong Kong-based logistics giant CK Hutchison Holdings announced plans to sell a majority stake in the business that controls Balboa and Cristobal ports - which sit at each end of the shipping lane. The sale is of a 90% interest in Panama Ports Company, which is contracted to run the important ports until 2047. Money...
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