Screw that. They are testing Trump here, let's see how this goes.
China theatens to block Panama Ports deal over Cosco's exclusion
China theatens to block Panama Ports deal over Cosco's exclusion
Quote:
Per reports, Chinese officials have directly told BlackRock, CK Hutchison, and MSC that they will block the sale if Cosco is not included as a partner. The Wall Street Journal, citing unnamed sources, reported that Beijing is pushing for Cosco to become a shareholder in both the Panama ports and the other terminals included in the deal.
Quote:
U.S. President Donald Trump has also taken an interest in the deal. He has publicly supported the sale to BlackRock and MSC, calling it a step towards "reclaiming" the Panama Canal and reducing China's influence in the region. He views the transaction as a national security victory for the U.S.
Sources also told the Wall Street Journal that Chinese authorities have instructed their state-owned companies to halt any new business dealings with CK Hutchison or other firms linked to Li Ka-shing, the billionaire founder of the Hong Kong conglomerate, unless Cosco is included in the sale.
The final terms of the deal are still being negotiated, with the companies facing a July 27 deadline for exclusive talks. If no agreement is reached by then, Cosco could be added to the deal. Per reports, BlackRock, MSC, and Hutchison are all open to including Cosco as a partner to move the deal forward.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."
Ronald Reagan
Ronald Reagan