News Formal

Australia blocks Chinese firm's bid to buy major dairy company

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 71%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Australia said it 'would be contrary to national interests' to allow a Chinese firm to buy a major dairy producer Lion Dairy and Drinks, currently owned by Japan's Kirin.

Australia said Tuesday it"would be contrary to national interests" to allow a Chinese firm to buy a major dairy producer, the latest sign of souring relations between the two countries.

Although Australia's consumer watchdog had earlier cleared the deal, Australian Treasurer Josh Frydenberg said in a statement on Tuesday that the sale"would be contrary to the national interest". Just last year, Inner Mongolia-headquartered Mengniu was given approval to purchase one of Australia's largest baby-formula manufacturers, Bellamy's.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: ByteDance investors seek to use stakes to finance TikTok bidByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Exclusive: ByteDance investors seek to use stakes to finance TikTok bid - sourcesByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »