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Regina Ip Admits Difficulties in Overturning CKH's Sale of Overseas Port Biz, Disappointed by Firm's Disregard for CN Interests
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Regina Ip, Convenor of the Executive Council, mentioned in her posting on social media about CKH HOLDINGS (00001.HK)'s plan to sell its port operations in 43 ports across 23 countries, including the Panama Canal port operation rights, to a consortium led by BlackRock. Ip quoted business and legal experts as saying that it will be difficult to overturn the agreement, and there seems to be no Hong Kong law that can prevent the transaction as CKH HOLDINGS is registered in the Cayman Islands and this transaction does not involve any assets within China. In addition, even though this appears to be a commercial transaction, it will actually inflict great damage on China since many ports along the "Belt and Road" initiative are involved, which means China will lose valuable strategic assets after over a decade of efforts invested since 2013. AAStocks Financial News |
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