CK Hutchison, a conglomerate based in Hong Kong, has agreed to sell a large portion of its global $22.8 billion ports business to a group led by BlackRock. This deal includes assets situated near the strategically vital Panama Canal. The canal's importance in global trade and U.S. President Donald Trump's concerns about Chinese control have made this transaction a focal point of U.S.-China trade tensions. Reports suggest that Beijing is unhappy with the deal and is reviewing it for security and antitrust implications.
Founded and listed in Hong Kong, CK Hutchison, owned by billionaire Li Ka-shing, has a broad global presence, covering businesses ranging from ports to telecommunications. The company's origins date back to Li Ka-shing establishing Cheung Kong Industries in 1950 at the age of 21, followed by acquiring a controlling stake in Hutchison Whampoa almost 30 years later. Hutchison Whampoa has historical roots in a small dispensary firm in China's Guangzhou and a dock and repair yard operator on the Pearl River.
In 2015, Li Ka-shing consolidated his two flagship companies, Hutchison Whampoa and Cheung Kong, into CK Hutchison, solidifying its position as one of Asia's largest conglomerates with a global footprint.
CK Hutchison has operations on every continent, spanning over 50 countries and employing more than 300,000 individuals. Around half of its operational earnings come from telecommunications and infrastructure activities, with a majority generated outside mainland China.
The group's telecommunications segment, the most profitable, contributed a quarter of operating profits in 2024. CK Hutchison Group Telecom oversees European operations, while Hutchison Asia Telecommunications manages ventures in Indonesia, Vietnam, and Sri Lanka. Notable brands include Three in various countries across Europe and Hutch in Sri Lanka, and Vietnamobile in Vietnam.
CK Hutchison's infrastructure operations, primarily managed by CK Infrastructure (CKI), accounted for just under a quarter of operating profits in 2024. This segment, the second-largest profit generator, is involved in managing various assets related to energy, transport, water infrastructure, and waste management globally, including holdings in UK Power Networks, Northern Gas Networks, and Canadian Power.