China's State Administration for Market Regulation said CK Hutchison's (HKG:0001) planned sale of most of its ports to a BlackRock-led consortium should not avoid antitrust reviews, the regulator said Sunday.
"The parties to the transaction shall not circumvent the review in any way and shall not implement the concentration before approval, otherwise they will bear legal responsibility," the regulator said.
Beijing made the comment after the Wall Street Journal said BlackRock's MSC shipping empire held discussions regarding moving forward with the deal while disputes regarding the ports near the Panama Canal are resolved, Reuters reported separately.
CK Hutchison's deals have two different structures: one for the Panama ports and another for all other ports, Reuters said.
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