Deals
Australia Blocks Foreign Bids for Electricity Supplier Ausgrid
- State Grid Corp., CKI vying for state distributor Ausgrid
- Bidders have one week to respond to preliminary decision
China's State Grid's Australia Bid Faces Hurdles
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Australia rejected bids for electricity network Ausgrid from Hong Kong billionaire Li Ka-shing and State Grid Corp. of China, amid growing opposition to selling infrastructure assets to overseas investors.
Treasurer Scott Morrison said it would be contrary to national security to allow the offers to proceed in their current form and said the bidders, which he didn’t name, have been given a week to respond.