The Australian government could approve a $7.5 billion sale of key electricity assets to a Chinese company as early as today, according to a report.
The deal would involve China State Grid buying the assets from Singapore Power, according to The Fin.
This would be the second win for a Chinese company awarded by the Abbott government recently.
Earlier this month the Treasurer relaxed rules which would have forced a Chinese state-owned company to reduce its stake in one of Australia’s largest coal miners by the end of the year.
It would also come after he knocked back Archer Daniel Midland’s $3 billion bid for Graincorp.
There’s more here.
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