Australia blocks Hong Kong-based CK Group's $9.5b bid for pipeline operator

Australia blocks Hong Kong-based CK Group's $9.5b bid for pipeline operator

Josh Frydenberg, Australia's energy minister and deputy leader of the Liberal Party, speaks during a news conference in Canberra, Australia, on Friday, Aug. 24, 2018. Photographer: Mark Graham/Bloomberg

Australia has officially vetoed CK Group’s A$13 billion ($9.5 billion) bid for APA Group, saying concentrated foreign ownership of the country’s dominant natural gas pipeline operator isn’t in the national interest.

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