China ups demand to controlling stake in Panama ports deal, WSJ reports

Dec 16 (Reuters) - China has upped its demands and is now pushing for state-owned ship operator Cosco 1199.HK to get a controlling stake in a $22.8 billion ports deal involving two contentious ports near the Panama Canal, The Wall Street Journal reported on Tuesday citing people familiar with the matter.

BlackRock BLK.N and Italian Gianluigi Aponte's family-run shipping firm MSC, which earlier secured a deal for the ports, had been open to offering Cosco an equal stake, the report said, adding however that talks have now hit an impasse after the fresh demands.

Reuters could not immediately verify the report.