Cheung Kong rumored to invest HK$10 bln in Tianjin Harbor

It was revealed by China mainland securities circle that Tianjin Sea Transportation planned to cooperate with Cheung Kong (0001). Li Ka Shing, chairman of Cheung Kong, would also visit Tianjin Sea Transportation and investigate Tianjin Harbor at the beginning of July. It was said that Cheung Kong intended to buy the shareholding or invest in Tianjin Sea Transportation. The cooperation plan was estimated to need over RMB10 bln. However, the spokespersons of Cheung Kong and Hutchison Whampoa declined to comment whether the group would invest in Tianjin Harbor, but the securities circle anticipated that Hutchison Whampoa would try to buy 49% shareholding in Tianjin Harbor.

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