CK Hutchison will not ink deal selling port operations near Panama Canal

Authorities will conduct an antitrust review of the port deal.

CK Hutchison will not sign the deal with a BlackRock-led group selling the former’s two port operations near the Panama Canal, according to a Reuters report citing two people with knowledge of the matter.

The news agency said China’s market regulators will conduct an antitrust review on the port deal to ensure fair competition and protection of public interest.

Whilst one of the sources did not elaborate on the matter, they said that only the definite documentation would not be signed due to "obvious reasons.” He noted, however, that this does not mean the deal has been called off.

The other source also confirmed that talks are still very much underway.

The overall deal covers 43 ports in 23 countries. It is being exclusively negotiated between CK Hutchison and the consortium for a 145-day period.

Chinese authorities have reacted unfavorably to the conglomerate's plans to sell its port holdings, whilst US President Donald Trump supports this, who articulated a goal of reasserting control over the key waterway.