Australia to announce winner of $40 billion submarine contract

Reuters

SYDNEY (Reuters) - Australian Prime Minister Malcolm Turnbull will announce on Tuesday whether France, Germany or Japan is the successful bidder for an A$50 billion ($40 billion) contract to build the country's new fleet of submarines, according to sources. Two sources with knowledge of the negotiations said the contract for the 12 new submarines, a centerpiece of Australia's future defense strategy, would be announced within hours. ($1 = 1.2967 Australian dollars) (Reporting by Colin Packham in SYDNEY and Nobuhiro Kubo in TOKYO; Editing by Lincoln Feast)