• Australia to block Chinese $9 billion energy takeover bid

    8 days ago - By Chron

    CANBERRA, Australia - The Australian government has warned it intends to block a Hong Kong and Chinese consortium's 13 billion Australian dollar takeover bid for an energy infrastructure company because it conflicts with Australia's national interest.
    CK Consortium needs approval of Australia's Foreign Investment Review Board to take over APA Group, which owns more than 43,700 kilometers of gas pipeline in Australia.
    Treasurer Josh Frydenberg said he told the consortium on Wednesday of his preliminary view that the takeover is not in Australia's interests. In practice, the decision to...
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