19th Sep 2016 05:47
LONDON (Alliance News) - A Chinese consortium is said to have been put together to bid for a majority stake in the National Grid PLC's GBP11 billion gas business, the Sunday Times reported.
The group is believed to include state-owned China Gas and conglomerate Fosun International Ltd, the newspaper said. Goldman Sachs is said to be advising the consortium, according to the report. Bids for National Grid's gas business are due later this month.
The bid stands to test new UK's Prime Minister Theresa May's clampdown on foreign ownership in key national infrastructure.
http://www.thetimes.co.uk/edition/business/chinese-eye-bid-for-national-grid-gas-network-5qm8whmjk
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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