CK Hutchison will not sign a deal as scheduled to sell its port operations near the Panama Canal to a U.S. investor and Swedish shipping line.
The Hong Kong conglomerate (OTC: CKHUF) controlled by billionaire Li Ka-shing on March 4 announced an agreement to sell control of its Hutchison Port Holdings marine terminals outside China to a consortium of BlackRock (NYSE: BLK) and TiL, the terminals arm of Geneva-based shipping firm MSC, for $23 billion. The announcement set an April 2 deadline to...