Fink de Blackrock made Trump satisfies the agreement on the Panama Canal. The cost can be an unhappy China.

The CEO of Blackrock (BLK), Larry Fink, orchestrated the takeover of the port of the Panama Canal who made President Trump happy, but the cost can be an angry Xi Jinping.

The Wall Street Journal reported this week That the Chinese chief is not satisfied with an agreement of $ 22.8 billion giving control of the investment coalition led by Blackrock of two key ports at each end of the vital shipping route currently held by the conglomerate of Hong Kong CK Hutchison.

CK Hutchison, which is controlled by the family of the billionaire of Hong Kong, 96, Li Ka-Shing, did not look for the pre -robation of the Directorate of the Chinese government, according to the Wall Street Journal.

In addition, Chinese leaders hoped to use ports as a negotiation currency with the Trump administration as part of larger talks between the two countries, the Wall Street Journal reported.

Other signs of dissatisfaction have emerged in articles and comments published in the Pro-Beijing TA Kung Pao newspaper, arguing that Chinese ships are now confronted with restrictions on the channel and the accusation of CK Hutchison to “prioritize the profit on everything, without taking into account national interests and national justice”.

The agreement deserves “serious attention”, the chief of Hong Kong, John Lee, added earlier this week, without directly criticizing CK Hutchison.

The rumors of Beijing add a new layer of complications to what seemed to be a big victory for Fink de Blackrock, who himself contacted the White House after Trump alleged a Chinese interference in the channel and said that he wanted to “resume”.

Fink argued in the White House that he would not need to take the force ports if BlackRock had to organize a purchase alone.

Trump referred to the agreement during his speech at Congress earlier this month while reiterating that “my administration will recover the Panama Canal” and “will take it back”.

It is not immediately clear what measures that Hong Kong or Beijing could take to block the transaction, which is not yet definitive and still requires the consent of various regulators. Companies hope to sign a final agreement by April 2.

Bloomberg and the Wall Street Journal reported that the Chinese authorities are closely examining the agreement. Bloomberg said that the examination includes any sign of security violation or antitrust violationsWhile the Wall Street Journal said that officials were invited to see what Beijing can do to hinder the agreement.

The course of BlackRock's action “would probably see a little blow” if the pact fell, according to the CFRA analyst, Cathy Seifert, but the greater threat would be the credibility of the newly reinforced infrastructure group of BlackRock.

History continues

Last year, BlackRock paid $ 12 billion to buy a global Infrastructure Infrastructure Investor Investor in energy, transport and infrastructure and GIP projects was part of the consortium that agreed to buy the ports at each end of the Panama Canal.

“There may be some pressure for this group to be able to go through or announce another agreement to regain a certain credibility of the market,” added Seifert.

The agreement negotiated by Blackrock and GIP implies much more than the Ports of Panama, it includes a total of 43 ports in 23 countries.

At Close: March 21 at 4:00 p.m.

Hooked, Speaking at a conference by Houston Energy earlier this monthsaid there were false ideas on the agreement such as reported in the press. One was that BlackRock himself bought the whole channel.

“My children called me and said to me:” Blackrock bought the Panama canal? Can we go there? “And I said:” We did not buy the Panama Canal. “”

He also said that “the extreme left” and “far right” had not mentioned that there were many other ports in the agreement, including six along the Suez Canal. “They mentioned that we bought two” along the Panama Canal.

These two ports, he said, represent 4% of the total value of the transaction.

He noted that the ports offer an excellent company for BlackRock, which will now have 100 in its portfolio if this agreement takes place. They can produce yields from 15% to 16%, he said.

“Even with prices and other things, it means that the ports will be very active,” he said.

Find out more: The latest news and updates on Trump's prices

This is not the first time that CK Hutchison or Li Ka-Shing, nicknamed “Superman” for its commercial prowess in Hong Kong, have been criticized in Beijing.

When Li served at the conglomerate bar in 2015, CK Hutchison faced a backlash to diversify its activities with European assets. This is where the majority of its income is currently coming, according to Nikkei.

In a statement of earnings Thursday, CK Hutchison did not mention the agreement on the ports, but said that “geopolitical and commercial tensions have … increased significantly”.

Victor Li, president of CK Hutchison and son of Li Ka-Shing, said in a statement on Thursday supporting the statement of profits that the environment of CK Hutchison companies could be “both volatile and unpredictable” this year.

David Hollerith is a main Yahoo Finance journalist covering the bank, crypto and other areas in finance.

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