The Financial Times reports that China’s Cosco is seeking a major stake in a $23B global ports deal backed initially by Trump, after Beijing objected to the planned sale of key Panama Canal assets to BlackRock and MSC. With the original talks stalled, Cosco is now positioned to reshape the deal, as its involvement is seen as crucial for winning Chinese regulatory approval. They write:
China’s state-owned shipping conglomerate Cosco is seeking a stake of at least 20-30 per cent in a $23bn ports deal that involves key assets in the Panama Canal, as Beijing tries to rewrite the terms of a sale that was hailed by US President Donald Trump.The Chinese group is demanding a large stake after an exclusive negotiating window for BlackRock and Swiss-Italian shipping group MSC expired, according to two people familiar with the talks. […]
Under one of the options being discussed, Cosco would receive a stake in 41 ports but not the two Panama ports that Trump has alleged are subject to Chinese influence, said the people. […]
Read more here.
