CANBERRA, Australia (AP) — Australia announced on Thursday it plans to block Chinese bidders from leasing a major Sydney electricity grid on national security grounds.
Treasurer Scott Morrison said Chinese state-owned State Grid Corp. and Hong Kong-registered Cheung Kong Infrastructure Group had until next Thursday to respond to his preliminary view that their leasing a 50.4 percent stake in Ausgrid over 99 years would not be in the national interest.
The decision almost certainly sinks the deal for the New South Wales state-owned electricity network that would have earned more than 10 billion Australian dollars ($7.6 billion). The money would have been …read more
Source: KXAN
