May Sought Scrutiny of Chinese Over Hinkley, Telegraph Reports

(Bloomberg) -- Prime Minister Theresa May raised security concerns over the Chinese investment in the U.K.’s Hinkley nuclear power project when it was discussed during David Cameron’s premiership, the Sunday Telegraph cited a former cabinet colleague as saying.

“Fairly early on in the coalition, she wanted to introduce a more stringent test of foreign investment, based on the American model of screening out projects that threaten national security,” former Business Secretary Vince Cable told the newspaper. “My recollection was that when approval was sought for Hinkley, she raised objections on grounds of national security issues and China.”

Former Chancellor of the Exchequer George Osborne overruled May to woo Chinese investors, the Telegraph cited Cable as saying. She was also “never completely satisfied” about Chinese telecom company Huawei, which has a partnership with BT Group Plc, he said.

May’s government on Thursday pledged to review the project being built by Electricite de France SA with Chinese investment, just hours after the company’s directors approved proceeding with construction. A ceremony to sign documents for the work was scrapped.

To contact the reporter on this story: Craig Stirling in London at cstirling1@bloomberg.net. To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Steve Geimann, Andrew Reierson