Cold neutral gas is a key ingredient for growing the stellar and central black hole mass in galaxies throughout cosmic history. We have used the Atacama Large Millimetre Array (ALMA) to detect a rare example of redshifted $^{12}$CO(2-1) absorption in PKS B1740-517, a young ($t sim 1.6 times 10^{3}$ yr) and luminous ($L_{rm 5 GHz} sim 6.6 times 10^{43}$ erg s$^{-1}$ ) radio galaxy at $z = 0.44$ that is undergoing a tidal interaction with at least one lower-mass companion. The coincident HI 21-cm and molecular absorption have very similar line profiles and reveal a reservoir of cold gas ($M_{rm gas} sim 10^{7} - 10^{8}$ M$_{odot}$), likely distributed in a disc or ring within a few kiloparsecs of the nucleus. A separate HI component is kinematically distinct and has a very narrow line width ($Delta{v}_{rm FWHM} lesssim 5$ km s$^{-1}$), consistent with a single diffuse cloud of cold ($T_{rm k} sim 100$ K) atomic gas. The $^{12}$CO(2-1) absorption is not associated with this component, which suggests that the cloud is either much smaller than 100 pc along our sight-line and/or located in low-metallicity gas that was possibly tidally stripped from the companion. We argue that the gas reservoir in PKS B1740-517 may have accreted onto the host galaxy $sim$50 Myr before the young radio AGN was triggered, but has only recently reached the nucleus. This is consistent with the paradigm that powerful luminous radio galaxies are triggered by minor mergers and interactions with low-mass satellites and represent a brief, possibly recurrent, active phase in the life cycle of massive early type galaxies.
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