Summary:

The Government of Australia has preliminarily blocked bidders from China and Hong Kong to take a controlling stake in the largest electricity network in the country, citing concerns about national security.

In a statement the treasurer Scott Morrison has said that foreign investment proposals of bidders "were contrary to the national interest".

State Grid Corp of China and Cheung Kong Infrastructure Holdings of Hong Kong (CKI) tried to buy a stake of 50.4% in the control Ausgrid.

State Grid Corp has not commented so far blocking this sale, the reaction of the Chinese media will be one of outrage.

Cheung Kong Infrastructure Holdings of Hong Kong, owned by Hong Kong billionaire Li Ka-shing, has distanced itself from this rejection.

In a statement to the BBC he said: "We believe that the Australian government should have reasons beyond the obvious, that led them to make today's announcement. The sale power grid, which is reportedly worth about $ 7.5bn, would have allowed tenderers from China and Hong Kong to acquire the controlling stake in Ausgrid for 99 years.

OPINION:

What is meant by this news is that a Chinese company has tried to buy more than 50% of the shares of the electric network Australia order to control the company and the government of Australia realizing this has blocked the sale by not wanting one foreigner to lead this company, because Chinese to get the energetic network and control, could blackmail Australia in the future and this thinking terrorized Australia making erase the network functions.

In my opinion I think that since China is angry with the impediment Australia purchase of shares.

Link: http://www.bbc.com/news/business-37043119