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Why did Australia block China's power network bid?

Australia has confirmed it will block foreign firms from bidding for a majority stake in the country's largest electricity network, Ausgrid.

Last week an attempt by China's State Grid Corporation and Cheung Kong Infrastructure of Hong Kong to buy 50.4% of Ausgrid was provisionally blocked and the companies were given a week to submit revised proposals.

But Australia's Treasurer Scott Morrison has now said foreign firms will be excluded from the bidding process. So what was behind that decision?

  • 19 Aug 2016
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