Three out of five of Victoria's electricity distributors and two out of three of its gas distributors would be controlled by a single Hong Kong-based infrastructure business under a $7.4 billion takeover proposal being considered by the Turnbull government.
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| The proposed takeover has raised concerns in business, strategic and political circles. |
Federal Treasurer Scott Morrison is expected to make a decision within the next two weeks on whether to allow Cheung Kong Infrastructure (CKI) to acquire DUET Group.
The proposed takeover, being closely scrutinised by the federal government's new Critical Infrastructure Centre, has raised concerns in business, strategic and political circles about the ownership of infrastructure regarded as critical.
In January, Mr Morrison and Attorney-General George Brandis released a joint statement saying Australia's national critical infrastructure "is more exposed than ever to sabotage, espionage and coercion", with increased privatisation, outsourcing and offshoring, and rising foreign investment.
Read Josh Gordon’s story in today’s Melbourne Age - “Melbourne’s electricity and gas facing greater Chinese control.”
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