Skip to content
Friday 4 September 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,831.52
+0.70%
DAX
26,003.32
0.00%
CAC 40
8,286.40
0.00%
STOXX 50
6,382.59
0.00%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Saturday 20 August 2016 5:00 pm

Australia has confirmed that it will block the sale of its largest energy grid to Chinese investors

By: Mark Sands

Add as a preferred source on Google

Australia has moved to formally block the sale of its biggest energy grid to Chinese investors over security concerns.

The sale was put on hold last week, and now the deal has been officially nixed by Australian treasurer Scott Morrison.

Two Chinese firms had been in talks to buy a 50.4 per cent stake in Ausgrid.

However, in a statement announcing the decision, Morrison said the sale would be “contrary to the national interest”.

"This is consistent with the recommendation from the Foreign Investment Review Board," Morrison said.

After Australia paused talks last week, China warned the Canberra government against being protectionist, and said it would impact “the willingness of Chinese companies to invest in Australia.”

Read More: Theresa May authors letter to cool Chinese fears

It comes as the UK government continues to review the construction of two nuclear power reactors at Hinkley Point, which would be financed by a combination of French and Chinese money.

EDF approved the plans at a board meeting last month, but business and energy secretary Greg Clark unexpectedly put the deal on hold, with a decision now expected next month.

This caused the Chinese to warn that relations between the UK and China were approaching "a critical juncture"

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Trending Articles

  • Vodafone and Deliveroo look to patch up Reform ties after Yusuf prison threats

  • Victoria Beckham owed £350,000 by Harvey Nichols

  • Trio of firms poised to quit London Stock Exchange as exodus gathers pace

  • Jim O’Neill: Capital gains tax hike ‘looms’ as top option for Burnham

  • Easyjet’s over-60s recruitment push is economically necessary

More from Morning Wire

  • As It Happened: Stocks dip as oil’s ‘slowing demand’ in focus; Iran threatens to extend war

    FTSE 100 Live
    People on a beach with cargo ships and a small boat in the Strait of Hormuz
  • Park Plaza owner ‘not distracted’ after sale talks fail

    Hospitality
    Luxurious one-bedroom suite living room at Artotel London Hoxton with city skyline views.
  • Government urged to refuse £1bn British Steel repayment to Chinese former owner 

    Politics
    Labour's Jonathan Reynolds unveiled the industrial strategy in June.
  • Former Crystal Palace owner John Textor scores temporary block of Brazilian football club share sale

    Lawsuit
    John Textor says he is ready to sell his stake in Crystal Palace to avoid the club being kicked out of the Europa League due to rules on multi-club ownership.
  • Formula 1 chiefs cool speculation of 12th team on grid

    Sport Business
    Formula 1 race cars on track with a packed grandstand of cheering fans at a major motorsport event.
  • Jeff Bezos closes in on Liverpool FC stake as FSG sale deal nears

    Sport Business
    Jeff Bezos, Amazon founder, in a blue suit and light shirt, speaking at a business event
  • Government to inject millions into electric vehicle firms despite mandate backlash

    Politics
    Car bodies on an assembly line in a UK car plant, showcasing EV manufacturing process
  • Revolut founder’s wealth set to balloon amid talks of share award at $500bn valuation

    Fintech
    Revolut CEO Nik Storonsky speaking at a business conference, wearing a suit and tie, addressing financial innovation.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook