The Government will not apply new rules over foreign takeovers of the UK’s key assets to the looming buy-out of National Grid’s gas distribution arm, leaving the way open for a Chinese-led bid to snap up the £11billion business. The move comes despite calls this weekend for the sale to be put on hold until the Government’s proposed rule changes on ‘critical infrastructure’ are in place. Bids for the gas pipe network owned by National Grid were due on Friday and offers are thought to have been received from state-owned China Resources Gas as well as a number of other internationally led groups.
Mail on Sunday 24th Sept 2016 read more »