Infuriating Beijing deal in The Panama Canal still happened

Hong Kong conglomerate C.K. Hutchison continues to prepare for the completion of the announced sale of two ports it controls near the Panama Canal. All this despite the active opposition of Beijing, as reported by Bloomberg.

According to anonymous sources cited by the agency, the teams tasked with completing the sale continue to work on aspects of taxation, accounting and background checks with a view to signing the final agreement next Wednesday, April 2, as planned.

Given that the agreement establishes a 145-day period of exclusive negotiations between C.K. Hutchison and the acquiring consortium led by the American asset management company BlackRock, it is unlikely that other potentially interested companies, such as Chinese state-owned groups, will participate in the deal.

The sale will bring the Hong Kong conglomerate a net profit of about $ 19 billion and will cover not only the ports of Balboa and Cristobal, but also 41 other ports controlled by the group in more than 20 countries.

Chinese authorities have repeatedly not intervened directly, but have spoken out through pro-Beijing newspapers in Hong Kong, warning that companies cooperating with the United States "will have no future, no matter how much business and money they receive," and demanding that the sale be canceled due to "damage to national security."