China's COSCO to hike stake in Qingdao port for $844m

China's COSCO to hike stake in Qingdao port for $844m

A sign COSCO is seen behind tree branches atop of the company's headquarters in Beijing November 8, 2013. REUTERS/Barry Huang

COSCO Shipping Ports will acquire a 16.82 percent stake in Qingdao Port International (QPI), operator of China’s sixth busiest port, the company said on Sunday, expanding COSCO’s port network.

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