MELBOURNE, Nov 7 (Reuters) - Australia's treasurer said on Wednesday his preliminary view on Hong Kong-based CK Group's proposed A$13 billion ($9.4 billion) takeover of APA Group (APA) was that it would be against the national interest and he would make a final decision within two weeks.
"I have formed this view on the grounds that it would result in an undue concentration of foreign ownership by a single company group in our most significant gas transmission business," Treasurer Josh Frydenberg said in a statement.
CK Infrastructure Holdings 1038.HK , part of the empire founded by Hong Kong tycoon Li Ka-shing, is leading a consortium bidding for Australia's biggest gas pipeline company.
APA's spokesman and CK Infrastructure's spokesman in Australia were not immediately available for comment.
($1 = 1.3797 Australian dollars)
News: APA Australia treasurer says CK Group's planned APA buy against national interest
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Mkt cap ! $9.776B | |||
| Open | High | Low | Value | Volume |
| $7.17 | $7.21 | $7.15 | $25.41M | 3.517M |
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|---|---|---|
| 1 | 3041 | $7.18 |
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| Price($) | Vol. | No. |
|---|---|---|
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