BUZZ-CK Hutchison slips on report PSA exploring sale of HK firm's ports business

Reuters
24 Apr
BUZZ-CK Hutchison slips on report PSA exploring sale of HK firm's ports business

** Shares of Hong Kong-based conglomerate CK Hutchison 0001.HK slip 1% to HK$43.05, on course to snap eight consecutive sessions of gain

** Stock set for the biggest one-daydecline since April 9

** Singapore's PSA International is exploring the sale of its 20% stake in CK Hutchison's ports business, two people with knowledge of the matter said, joining the Hong Kong conglomerate in its controversial plans to sell

** CK Hutchison announced last month it would sell its 80% holding in the business, which includes two ports along the strategically important Panama Canal to a BlackRock-led BLK.N consortium. The holding has an equity value of $14.2 billion

** Hang Seng Composite Index tracking conglomerates .HSCIC eases 0.4%, Hang Seng Index .HSI slips 0.3%

** CK Hutchison stock up 4.3% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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