China has threatened to block a deal for dozens of global ports – including two near the Panama canal – if its own shipping giant doesn’t get a sizable stake, according to a report Thursday.
The deal, valued at around $20 billion, hands over more than 40 global ports owned by Hong Kong business magnate Li Ka-Shing to US asset manager BlackRock and Mediterranean Shipping Company.
China is demanding that Cosco, its largest shipping firm, be an equal partner to BlackRock and MSC in the deal, sources familiar with the matter told the Wall Street Journal.
A Cosco Shipping container freighter in the Port of Hamburg. ZUMAPRESS.com
BlackRock, MSC and Li’s firm, CK Hutchison, are all open to that idea, sources said.
MSC, Cosco and the Chinese Embassy did not immediately respond to The Post’s requests for comment. BlackRock declined to comment.
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