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CKH Purportedly Seeks Reasonable Solution with HK Govt on Nearing Panama Port Sale
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The Hong Kong government began discussions with CKH HOLDINGS (00001.HK) immediately after taking note on March 4 of the company's announcement on the planned sale of its port business, seeking a reasonable solution, the South China Morning Post reported, citing people familiar with the matter. Yesterday (26th), CKH reportedly planned to proceed as scheduled with the sale of two Panama ports to a BlackRock (BLK.US)-led consortium, aiming to sign the agreement by April 2. CKH has been in contact with the Hong Kong government, attempting to find a viable resolution, sources divulged. However, options are limited, as withdrawing from the deal could be costly and carry severe political consequences, while pushing forward with the transaction would cause harm to both the company and the nation. AAStocks Financial News |
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