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Australia Rejects Chinese Firms' Bids to Lease Sydney-Based Power Grids

Australia has blocked the potential multi-billion dollar sale of the country's biggest electricity network to two Chinese companies, citing national security reasons. Treasurer Scott Morrison did not discuss specific concerns Thursday when he announced his decision to reject bids from China's State Grid Corp and Hong Kong-based Infrastructure Holdings, which were seeking to lease a 50.4 percent stake in Ausgrid for 99 years. The network provides power for the state of New...

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