A Chinese consortium is eyeing up the business that distributes gas to nearly half of British homes. National Grid, which also runs Britain’s high-voltage electricity network, is selling a majority stake in its network of pipelines that deliver gas to 11 million homes. A new Chinese group, thought to include the acquisitive consortium Fosun, is joining two big groups of investors in considering a bid, according to a weekend report. The Chinese interest could be a litmus test of the prime minister’s pledge to block acquisitions of British assets by overseas buyers if they are deemed against the national interest. Final bids are due this month. The business is worth about £11 billion.
Times 19th Sept 2016 read more »