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GRID:

Security concerns sink Chinese ambitions in Australia

Australian officials have blocked two Chinese companies from acquiring a majority stake in the Sydney-based power utility Ausgrid, citing national security concerns. The State Grid Corp. of China and the Hong Kong-based Cheung Kong Infrastructure Holdings saw their takeover bids swatted down earlier this month by Australia's treasurer, Scott Morrison, who said his office identified "national security issues ... in critical power and communications services that Ausgrid provides to businesses and governments."

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