CK Hutchison's Bold Port Sale Amid Sino-U.S. Tensions

CK Hutchison is progressing with its $22.8 billion ports business sale, stressing the "reasonable chance" of success. A prospective Chinese investor is expected to join the buying consortium, assisting Hutchison in managing Sino-U.S. tensions.

The plan involves selling 43 ports in 23 countries, drawing attention due to some locations being near the Panama Canal, although not part of it, especially amid President Trump's calls to reduce Chinese economic influence.

Investor COSCO is expected to join, although talks have proceeded slower than anticipated. Meanwhile, CK Hutchison posted an 11% rise in first-half underlying profit, despite uncertainties about trade disputes and geopolitical risks.

(With inputs from agencies.)