Hong Kong, - China Cosco Shipping is in discussions to invest in a consortium aiming to acquire billionaire Li Ka-shing's global ports. This move is intended to address Beijing's concerns regarding the deal.
The consortium, led by Terminal Investment Ltd. (Gianluigi Aponte) and including BlackRock's Global Infrastructure Partners, is negotiating with China Cosco Shipping and other state-backed firms. The inclusion of Chinese investors is seen as a way to facilitate the ports sale, which includes two ports along the Panama Canal.
The sale, expected to net CK Hutchison Holdings over $19 billion, has faced opposition from Beijing. The talks are ongoing, and a deal could still be delayed. The consortium's structure, with Terminal Investment owning most ports and BlackRock controlling the Panama ports, has raised concerns about competitiveness.