Australia Blocks Bids for Ausgrid, Triggering Warning From China

  • Treasurer says sale in current form against national interest
  • China’s State Grid, CKI sought to buy electricity network

Australia upheld its decision to block foreign bidders from buying a majority stake in state-owned power network Ausgrid for more than A$10 billion ($7.6 billion), triggering a warning from China that the move will hurt bilateral ties.

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