Spectre of China hovers in government veto of $13 billion APA takeover

David Fickling | 08 November 2018 | Investing

The reasoning given by Treasurer Josh Frydenberg for blocking a CK Asset Holdings-led consortium from taking over Aussie pipeline operator APA Group doesn't make a lot of sense.

The deal would be contrary to the national interest because it would result in "an undue concentration of foreign ownership by a single company group in our most significant gas transmission business," Frydenberg wrote on Wednesday in a statement halting the $13 billion acquisition.

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