Shelly Banjo, Columnist

Karma and Comfort for Orient Overseas

The container line once helped by China fetched a generous price.

July 10, 2017 at 5:11 AM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

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Karma can hurt. At least this pain comes at a comforting price.

Cosco Shipping Holdings Co. agreed to pay $6.3 billion to acquire Orient Overseas International Ltd., the Hong Kong container-shipping group that China reportedly helped bail out from the verge of bankruptcy in the 1980s.