Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings will not go ahead with the expected signing of a deal next week to sell its two strategic ports at the Panama Canal, the Post has learned.

It is understood that April 2 was not a “real deadline” but only a date by which the agreement could be signed at the earliest.

“There will not be an official signing of the two Panama ports deal next week,” a source close to CK Hutchison told the Post.

April 2 is the latest date when CK Hutchison and a consortium led by United States investment firm BlackRock are due to sign a definitive agreement over the deal for the two ports, according to an announcement of the sale on March 4.

The sale of CK Hutchison’s two ports at each end of the Panama Canal, along with others outside Hong Kong and mainland China, were part of a US$23 billion deal that will leave the company pocketing US$19 billion in cash.

But there was no indication that the deal had been called off, with significant details yet to be decided due to the complexity of the transaction.

News of the sale has further inflamed Sino-US tensions, with Beijing’s key offices overseeing Hong Kong affairs piling pressure on CK Hutchison in recent weeks by posting scathing articles attacking the deal for failing to take national interests and security into account.

Chinese foreign ministry spokeswoman Mao Ning has also accused Washington of using economic coercion and bullying to undermine the interests of other countries.