Australia plans to reject a A$13 billion (US$9.9 billion) takeover offer for the country's biggest gas pipeline company, APA Group, from Hong Kong-based CK Infrastructure Holdings on national interest grounds. "I have formed this view on the grounds that it would result in an undue concentration of foreign ownership by a single company group in our most significant gas transmission business," Treasurer Josh Frydenberg said in a preliminary update on the deal.
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