CK Hutchison: No Deal to Sell Panama Port Operations, Sources Say

Hong Kong's CK Hutchison will not sign a deal next week to sell its two port operations near the Panama Canal to a BlackRock-led group, two people with direct knowledge of the matter said, amid growing pressure from Beijing.

China's market regulator said it will carry out an antitrust review on the Panama port deal in accordance with law to protect fair competition and safeguard public interests, its official WeChat account showed late on Friday.

The telecoms-to-retail conglomerate owned by tycoon Li Ka-shing this month agreed to sell most of the global $22.8 billion ports business, including assets it holds along the strategically important Panama Canal, to a group led by BlackRock.

Definitive documentation for the two port operations near the Panama Canal was expected to be signed by April 2, according to the sale announcement made on March 4.

One of the people, who declined to be identified due to the sensitivity of the matter, did not elaborate, saying only that the definite documentation would not be signed due to "obvious reasons".

The person added the development does not mean the deal has been called off, and April 2 is not a hard deadline. The