China has upped its demands and is now pushing for state-owned ship operator Cosco 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 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.
Source: Reuters