China warns Panama ports deal firms to 'proceed with caution'
'proceed with caution'
Daily SumUp · Daily SumUp
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Show Notes
China urged parties involved in Hong Kong conglomerate CK Hutchison's sale of Panama Canal ports to exercise "caution" Thursday, warning of legal consequences should they proceed without clearance from Beijing.
The Hong Kong firm's attempt to sell most of its port operations to a US-led consortium was first announced in March after weeks of pressure from Donald Trump.
The US president has refused to rule out military intervention to "take back" the crucial waterway -- which was handed over to Panama in 1999 -- from alleged Chinese control.
Beijing has criticised the sale of the assets to a group led by giant asset manager BlackRock, opening an investigation into the deal to ensure it is handled lawfully.
CK Hutchinson underlined on Monday that "the transaction would never be carried out in any illegal or non-compliant manner".
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