Port sale standoff threatens to derail Andrews government's transport promises

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Trouble is brewing in Melbourne, where the local government is seeking to lease the entire port authority on a long-term basis in the hope of raising some A$6bn. However, part of that valuation rests on its proposal to raise terminal rents of incumbent operators DP World and Asciano by around 750%. Yep, seven hundred and fifty per cent! Which in turn has prompted the box operators to go to the Australian Consumer and Competition Commission to complain of an abuse ...