China is exerting pressure on stakeholders involved in the sale of over 40 ports owned by Hong Kong-based CK Hutchison. The deal, which includes BlackRock and Mediterranean Shipping Company (MSC) as potential buyers, faces potential blockages unless Chinese shipping giant COSCO secures a stake. This information comes from a report by the Wall Street Journal, which cited unnamed sources.
The proposed sale, valued at an enterprise worth of approximately $22.8 billion including debt, involves a significant portion of CK Hutchison’s assets. The company announced in March 2025 its intention to divest its 80% holding in the port business, which spans 43 ports across 23 countries.
Chinese officials have communicated to BlackRock, MSC, and CK Hutchison that if COSCO is excluded from the transaction, Beijing would take measures to obstruct the sale. This strong stance reflects China’s growing interest in maintaining influence over strategic maritime assets.
In May, CK Hutchison confirmed that MSC, led by Italian billionaire Gianluigi Aponte, was the main investor in the consortium seeking to acquire the ports. Both BlackRock and MSC have indicated a willingness to consider COSCO’s involvement. However, it appears that an agreement may not be reached before the upcoming deadline for exclusive negotiations, set for July 27, 2025.
U.S. President Donald Trump has also taken note of the deal. He has consistently expressed concerns regarding Chinese influence near the Panama Canal, labeling this transaction a “reclaiming” of the waterway. This underscores the geopolitical implications intertwined with the commercial negotiations.
As the situation develops, the stakes remain high for all parties involved. The potential blockage from China adds a layer of complexity to an already scrutinized deal, signaling the delicate balance of international relations in trade and investment. The responses from CK Hutchison, BlackRock, MSC, and COSCO are awaited as the deadline approaches.
