Another Beijing warning over Hutchison’s Panama ports deal
HKMAO shares scathing piece that warns Hong Kong tycoon Li Ka-shing’s conglomerate against making ‘historic mistakes’
Beijing’s top office on Hong Kong affairs has fired another warning shot over CK Hutchison Holdings’ Panama ports deal, reposting a sixth critical article which urges the conglomerate against acting “in concert with US hegemony” and to avoid making “historic mistakes”.
The Hong Kong and Macau Affairs Office reposted the latest piece on Sunday, which cited strong support among 12 Hong Kong businesspeople, lawmakers and mainland China legislature members for Beijing’s announcement that it would launch an antitrust probe into the sale of two Panama Canal ports operated by tycoon Li Ka-shing’s CK Hutchison.
The article, titled “Don’t act in concert with US hegemony, avoid historic mistakes”, said the conglomerate needed to step back from the precipice and avoid incurring “major loss” in return for a “small gain”.
The interviewees said the impact of CK Hutchison’s deal extended beyond the business sphere and touched on China’s national security, market competition and strategic development.
CK Hutchison has come under fire for its wider plan to sell its 43 overseas port operations, including the two at each end of the Panama Canal, to a consortium led by United States investment firm BlackRock for US$23 billion. The conglomerate is set to receive US$19 billion in cash.