CANBERRA, Australia—Australia has moved to block State Grid Corp. of China and Hong Kong’s Cheung Kong Infrastructure Holdings Ltd. from taking a controlling stake in the country’s largest electricity network, bowing to worries over national security. Treasurer Scott Morrison said he had given both companies—rivals in the deal—one week to respond to concerns over bids to take a 50.4% stake in Ausgrid. The move followed a process that...

Source: Wall Street Journal August 11, 2016 04:24 UTC