UK is exploring sale of National Grid’s gas transmission business, report says

Dials and valves are seen near a section of a gas pipeline at a National Grid facility near Knutsford, Britain October 11, 2021. REUTERS/Phil Noble

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LONDON, Aug 7 (Reuters) – Britain has opened an investigation into the sale of a 60 percent stake in National Grid’s (NG.L) gas transmission and metering business to a consortium led by Australian company Macquarie under new national security rules, the reported Telegraph on Sunday.

National Grid agreed to sell the unit for an enterprise value of about £9.6 billion ($12.7 billion) in March. Continue reading

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Reporting by Akriti Sharma and Paul Sandle Editing by Raissa Kasolowsky

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