BlackRock to buy HK firm's Panama Canal port stake as Trump steps up pressure

BlackRock to buy HK firm's Panama Canal port stake as Trump steps up pressure

The company logo of CK Hutchison Holdings is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip/File Photo

An investor group backed by BlackRock agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a U.S. firm control of key docks amid pressure from the White House to take them from China.

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