Hong Kong conglomerate CK Hutchison, led by tycoon Li Ka-shing, will not sign a deal next week to sell its two strategic ports at the Panama Canal to a BlackRock-led group, the South China Morning Post reported on Friday.

Hong Kong conglomerate CK Hutchison, led by tycoon Li Ka-shing, will not sign a deal next week to sell its two strategic ports at the Panama Canal to a BlackRock-led group, the South China Morning Post reported on Friday.

The deal was expected to be signed on April 2, according to the sale announcement made on March 4. It is understood the situation does not mean the deal has been called off, the South China Morning Post added, citing the source.

CK Hutchison and BlackRock did not immediately respond to a Reuters request for comment. Chinese authorities have reacted negatively to plans by the conglomerate, while the deal was hailed by U.S. President Donald Trump who wants to retake control of the strategic waterway.