China Criticizes CK Hutchinson's $23 Billion Sale of Panama Ports to BlackRock

CK Hutchison's shares plunged over 6% following China's criticism of its agreement with BlackRock regarding ports in Panama, as reported by Ta Kung Pao and CNN. BlackRock, leading a consortium, plans to invest $22.8 billion in acquiring ports from CK Hutchison, a deal that includes a substantial stake in several global ports. China denounced the proposed transaction as a "betrayal" of its people, urging CK Hutchison to reassess its participation, according to comments in Ta Kung Pao. The Panama Canal, a vital link in global trade, was transferred to Panama in 1999, facilitating 4% of the world's maritime trade.