Conglomerate says the $23bn transaction is taking much longer than expected as it tries to win Beijing’s approval

A transaction wouldn’t be completed this year even if binding agreements are settled sooner, said CK Hutchison co-managing director Frank Sixt at an analysts' briefing on Aug 13.

All eyes will be on CK Hutchison this Thursday as the Hong Kong conglomerate prepares to release its results, with investors keenly awaiting any updates on the proposed $22.8 billion sale of its ports business to a BlackRock-led consortium.