CK Hutchison’s $22.8-billion ports business deal in focus as conglomerate reports results

Investors will look for comments from CK Hutchison on the status of its $22.8-billion ports business sale to a consortium led by US investment firm BlackRock when the Hong Kong conglomerate reports its results on Thursday.

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The ports-to-telecoms group will present its interim results at 5 p.m. (0900 GMT), offering analysts the first opportunity to quiz the management about the plan to sell the ports business since it was announced in March.

Departing from its usual practice, CK Hutchison did not brief analysts or media about its 2024 earnings, released in March after it made public its plan to sell the business, which includes two ports along the strategic Panama Canal.

Since the plan to sell 43 ports in 23 countries to a group led by BlackRock and Italian billionaire Gianluigi Aponte’s family-run shipping firm MSC was announced, CK Hutchison has faced afirestorm of criticism from China.