DUET says Australian govt approves $5.5 bln takeover by CKI

SYDNEY, April 21 (Reuters) - Australia DUET Group said on

Friday it had been advised by Hong Kong's Cheung Kong

Infrastructure Holdings (CKI) that the Australian government

does not plan to block the Hong Kong companies $5.5 billion

takeover offer.

DUET chairman Doug Halley said shareholders would now be

able to vote on the CKI bid at a meeting later on Friday

following the approval from the Foreign Investment Review Board


DUET shares jumped 9.5 percent at the open to A$3.01

($2.26). There were fears earlier this year that a new

infrastructure oversight body in Australia would block or modify

the CKI bid.

($1 = 1.3305 Australian dollars)

(Reporting by Jane Wardell; Editing by Shri Navaratnam)