Australian defended its preliminary decision to block Singapore Exchange's $7.8 billion bid for Australia's ASX Ltd , rejecting criticism that it would hurt the nation's standing with foreign investors. Treasurer Wayne Swan, speaking a day after revealing he intended to block the deal on unspecified national-interest grounds, said Australia continued to welcome foreign investment and described its approval process as fair and transparent. "I welcome foreign investment but ultimately all foreign investment proposals have to be in the national interest," he told ABC radio on Wednesday.
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