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Empresas y finanzas

Canadian government blocks Petronas bid for Progress Energy


    TORONTO (Reuters) - The Canadian government blocked Malaysian state oil company Petronas' C$5.17 billion ($5.22 billion) bid for gas producer Progress Energy Resources Corp on Friday, in a ruling that could have huge implications for the far larger proposed takeover of Nexen by China's state-owned CNOOC.

    "I can confirm that I have sent a notice letter to Petronas indicating that I am not satisfied that the proposed investment is likely to be of net benefit to Canada," said Christian Paradis, Canmada's Minister of Industry in a statement.

    Petronas has up to 30 days to make any additional representations and submit any further undertakings that could make the deal more palatable to the Canadian government.

    ($1 = 0.9908 Canadian dollars)

    (Reporting by Euan Rocha Editing by Janet Guttsman)