CK Hutchison Shares Fall Amid China Criticism Over Panama Port Sale to BlackRock

CK Hutchison (HK:0001) shares dropped as much as 4.7% on Monday after rising tensions with Chinese authorities over its planned sale of Panama port assets to a BlackRock (NYSE:BLK)-led consortium. The deal, expected to close by April 2, has now been delayed, though not canceled, according to sources.

The $22.8 billion Hong Kong conglomerate aims to offload much of its ports business for over $19 billion in cash. However, Chinese state media and pro-Beijing Hong Kong outlets, including Ta Kung Pao, have sharply criticized the deal, framing it as a betrayal of China’s national interests. On Monday, Ta Kung Pao published a full-page critique featuring comments from Chinese lawyers and Hong Kong politicians urging CK Hutchison to reconsider.

Tensions escalated further when China’s market regulator announced an antitrust review of the sale, citing public interest and fair competition laws. A now-deleted social media post by a CCTV-linked account said the transaction was “tantamount to handing a knife to an opponent.”

CK Hutchison shares partially rebounded in early trading but remained down 3% at HK$43.8, while the Hang Seng Index fell 1%. Despite rising political pressure, the company has not commented on the backlash or the regulatory review.

Separately, CK Hutchison addressed rumors about a potential spin-off of its global telecommunications business, stating that no final decision has been made. Reuters previously reported that the company is considering a London listing for the telecom assets.

The sale has drawn global attention, with U.S. President Donald Trump praising it as a strategic move to reduce China’s influence near the Panama Canal.