Australia moved to block the A$10bn-plus ($7.47bn) sale of a controlling stake in the country’s biggest electricity distribution network to two Chinese companies on national security grounds.
The preliminary decision reflects public and political unease over the scale of Chinese investment in critical infrastructure and farm land in Australia — echoed around the globe — that has intensified following the recent election.
“In particular, during the review process national security issues were identified in critical power and communications services that Ausgrid provides to businesses and governments,” Scott Morrison, Australia’s treasurer, said on Thursday.
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