Australia to ban Chinese from leasing Sydney power grid

August 11, 2016 4:30 AM

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CANBERRA, Australia – Australia has announced it plans to block Chinese bidders rom leasing a major Sydney electricity grid on national security grounds.

Treasurer Scott Morrison said Thursday that Chinese state-owned State Grid Corp. and Hong Kong-registered Cheung Kong Infrastructure Group have 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 interes...

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