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Containers lie on the dockside at a port on the Panama Canal operated by a unit of CK Hutchison. The Hong Kong conglomerate had been expected to finalize the sale of this and dozens of other ports next week, but a report on March 28 suggested the signing may be delayed. © Reuters
KENJI KAWASE
HONG KONG -- China's market regulator on Friday said it will review Hong Kong conglomerate CK Hutchison Holdings' deal to sell dozens of global port assets, including two at the Panama Canal, to a consortium led by U.S. investment fund BlackRock.
The announcement by China's State Administration for Market Regulation (SAMR) marks the latest twist in a saga that started earlier this month, when the group controlled by tycoon Li Ka-shing's family agreed to unload the ports. The arrangement -- which came in the wake of U.S. President Donald Trump's vows to wrest control of the Panama Canal away from China -- sparked relentless criticism from Chinese state media.