Bids for the gas pipe network owned by National Grid plc (LSE:NG.) were due on September 23, 2016 and offers are thought to have been received from state-owned China Resources Gas Group Limited (SEHK:1193) as well as a number of other internationally led groups. 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 £11 billion 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.
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