Hong Kong’s CK Hutchison Holdings warned of legal action on Thursday against a Danish logistics and ports group, after the latter was tapped by Panamanian authorities to temporarily take over the operation of two critical ports at both ends of the Panama Canal from the Hong Kong conglomerate.
Panama’s Supreme Court ruled in late January that the concession held by a subsidiary of CK Hutchison to operate the two ports on the Panama Canal was unconstitutional. A subsidiary of Denmark-based A.P. Moller-Maersk would be operating the ports in a transitional phase, Panamanian authorities said earlier, until a new concession can be bid and awarded.
