China's market regulator said Sunday it was reviewing CK Hutchison's planned sale of a majority of its ports to a BlackRock-led consortium.
The State Administration for Market Regulation said in a statement that its review of the transaction will cover all parties involved, and should not be implemented without its approval.
The Chinese government statement was made in response to a Wall Street Journal report earlier this month that said the Blackrock consortium was holding separate talks with the Mediterranean Shipping Company to move forward with the bulk of the deal while disputes over the two Panama Ports are resolved, according to a Reuters report Sunday.
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