The US government has raised national security concerns over a takeover bid of Hong Kong - based shipping firm Orient Line International ( OOIL ) by the Chinese state - owned shipping giant COSCO . The Committee on Foreign Investment in the United States ( CFIUS ) is worried about the inclusion in the $ billion deal of a large container terminal in Long Beach , California , the second - largest port in the country . COSCO executives are reported to have met with CFIUS officials to discuss divesting the terminal or removing it from the acquisition , which is due to be completed by the end of June .
The US government has raised national security concerns over a takeover bid of Hong Kong-based shipping firm Orient Overseas International (OOIL) by the Chinese state-owned shipping giant COSCO. The Committee on Foreign Investment in the United States (CFIUS) is worried about the inclusion in the $6.3bn deal of a large container terminal in Long Beach, California, the second-largest port in the country. COSCO executives are reported to have met with CFIUS officials to discuss divesting the terminal or removing it from the acquisition, which is due to be completed by the end of June.