Treasurer rejects $13-billion bid for Australia’s biggest gas pipeline provider
Federal Treasurer Josh Frydenberg is stepping in to stop a Chinese company from buying Australia’s biggest gas pipeline provider.
CK Infrastructure has been told its $13-billion bid for APA Group isn’t in the national interest.
Energy Economics analyst Bruce Robertson tells Ross Greenwood there’s a clear reason to block the deal.
“APA dominates the gas transmission, that’s the big pipes.
“The other player in the market is also owned by China. That would mean that if [CK Instrastructure] took over APA Group, you would see the Chinese government dominate gas transmission in Australia.”
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