长江和记实业

CK Hutchison’s problem ports show limits to its dealmaking style
Lex专栏:长和港口风波反映其交易风格局限

Proof of a renewed appetite for dealmaking could help the Hong Kong conglomerate realise value trapped in its other divisions
长江和记出售港口资产的交易若能成功,将证明其恢复了开展重大交易的意愿,从而可能有助于释放该公司其他业务板块中套住的价值。

CK Hutchison’s $23bn ports sale produced the Hong Kong conglomerate’s best one-day gain in almost 10 years when it was announced in March, and was reminiscent of the swashbuckling transactions that made founder Li Ka-shing’s name. The ongoing negotiations with Beijing, which has come out in opposition to the sale, reflect a more prosaic reality.

长江和记(CK Hutchison)今年3月宣布以230亿美元出售旗下港口业务,这个消息令这家香港综合企业获得了近10年来最大的单日股价涨幅,也让人回想起创始人李嘉诚(Li Ka-shing)早期那些令他声名大噪的大胆交易。然而,与公开反对这项交易的北京方面正在进行的谈判,反映出更冰冷的现实。

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