US president’s Panama Canal move, while having made a lot of money for HK tycoon, is more like misdirected fire than a win over Beijing.
The company said the loss for 2024 could come in at HK$126.6 million (US$16.3 million) versus a profit of HK$17.3 million the previous year
Li Ka-shing's company would have come under increased US scrutiny and risked fight in American court if it held on to overseas docks, sources say CK Hutchison Holdings' decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move,
Most of the stakes in key ports on the Panama Canal are owned by a Hong Kong-based company and are set to be sold off after Trump announced his waterway plans.
After a lifetime of dealmaking, 96-year-old Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet.
Li Ka-shing, Larry Fink and Adebayo Ogunlesi picked up the phone and struck a $36 billion deal to take over 43 ports within weeks.