Business
Australia set to bar China dairy takeover as trade tensions rise – Financial Times
Canberra opposes China Mengniu acquisition of some of nation’s biggest milk brands
Australia is poised to block China Mengniu Dairy’s proposed A$600m takeover of some of the nation’s biggest milk brands, as diplomatic and trade tensions rise between Beijing and Canberra.
Just days after China initiated an anti-dumping inquiry into Australian wine, Josh Frydenberg, Australia’s treasurer, has told state-owned China Mengniu his preliminary view is that the takeover of the Lion Dairy brands owned by Japan’s Kirin Holdings Co should not proceed, according to two sources with know…
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