Hong Kong: The South China Morning Post is reporting Li-Ka-shing is looking at offloading some of his port investments to a consortium of state-owned mainland firms. The newspaper claims China Merchants Holdings (International), Cosco Pacific, China Shipping Terminal Development and State Development & Investment Corp are interested in taking a 40% stake in Hutchison Port Holdings (HPH) for HK$150bn to HK$160bn.
Last month, Li unveiled a restructuring of Cheung Kong (Holdings) and Hutchison Whampoa.
Hutchison denied the rumours.
In 2006, Singapore’s PSA International paid HK$34bn for a 20% stake in HPH. Under the terms of that nine-year old deal, PSA has first right of refusal in any further stake sale. [06/02/15]