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Bloomberg
2 days ago
- Business
- Bloomberg
China's Cosco Eyes Veto Rights in Deal for Tycoon Li's Ports
China's biggest shipping company is set to join the global consortium that's acquiring Hong Kong tycoon Li Ka-shing's overseas ports, and is requesting a powerful role in the group in order to secure Beijing's blessing for the controversial deal, people familiar with the matter said. State-owned China Cosco Shipping Corp. is asking to have veto rights or equivalent powers in the entity taking over the 43 ports, including two strategically important ones along the Panama Canal, the people said, asking not to be identified discussing private matters. Cosco has argued such rights are necessary to block any decisions that are potentially harmful to China's interests, the people added.
Bloomberg
2 days ago
- Business
- Bloomberg
China's Cosco Eyes Veto Rights in Deal for Li Ka-shing's Ports
China's biggest shipping company is set to join the global consortium that's acquiring Hong Kong tycoon Li Ka-shing's overseas ports, and is requesting a powerful role in the group in order to secure Beijing's blessing for the controversial deal, people familiar with the matter said. State-owned China Cosco Shipping Corp. is asking to have veto rights or equivalent powers in the entity taking over the 43 ports, including two strategically important ones along the Panama Canal, the people said, asking not to be identified discussing private matters. Cosco has argued such rights are necessary to block any decisions that are potentially harmful to China's interests, the people added.
