The sale of Hutchison Ports' terminal operations – currently controlled by Hong Kong-based CK Hutchison Holdings – to a consortium comprising investment giant BlackRock (through Global Infrastructure Partners) and Mediterranean Shipping Company (via Terminal Investment) had reached a standstill due to opposition from the Chinese government. However, a breakthrough could come in July 2025, as negotiations may lead to a compromise: the inclusion of China Cosco Shipping in the deal. Bloomberg reported the development on 22 July 2025, citing sources familiar with the matter. The agency added that both BlackRock and MSC have agreed to provide Cosco with the data required to proceed with the discussions.
A final decision has not yet been reached, partly due to a key sticking point: Cosco is reportedly demanding veto power or equivalent influence in the new entity that will oversee Hutchison Ports' 43 terminals. This condition is seen as essential to blocking any future decisions that could harm Chinese interests. Meanwhile, the deadline of 27 July is fast approaching – the cut-off for exclusive negotiations between CK Hutchison Holdings and the acquiring consortium. None of the companies involved responded to Bloomberg’s requests for comment.
Since the announcement of the proposed sale of Hutchison Ports to BlackRock and MSC, Beijing has displayed increasing signs of hostility, despite lacking the formal power to block the transaction. Critical editorials targeting Li Ka-shing, founder and chairman of CK Hutchison Holdings, began appearing in a Hong Kong newspaper seen as close to the government. Soon after, the deal was publicly criticised by several ministers. The pressure intensified when state-owned enterprises were instructed to suspend any new partnerships with companies linked to the Li family. Finally, Beijing halted negotiations with Li Ka-shing’s son over plans to expand the group’s insurance business in China.
