How Tycoon Li Ka-shing Landed in the Middle of US-China Tiff Over Panama Canal

Hong Kong tycoon Li Ka-shing has found himself in the middle of a US-China tiff over the Panama Canal. Chinese authorities have reacted negatively to plans by Li’s conglomerate CK Hutchison Holdings Ltd. to sell its two port operations on the Panama Canal to a consortium including US-based BlackRock Inc. The deal was announced after US President Donald Trump called for the US to retake control of the strategic waterway, claiming falsely that it is operated by China.

CK Hutchison probably won’t sign a definitive agreement on the port sale by the original target of April 2, people with knowledge of the matter said. Work on the deal is still progressing, but the companies need more time to complete formalities, they said.