UK to probe UAE-backed takeover of Telegraph ...Kuwait

The UK government said on Thursday it had triggered a formal probe on public interest grounds into the proposed sale of the Telegraph Media Group to an Abu Dhabi-backed investment fund. RedBird IMI announced earlier this month that it was set to take control of The Daily Telegraph and Sunday Telegraph sister newspapers and The Spectator magazine. The joint venture between US firm RedBird Capital and Abu Dhabi's International Media Investments said it had agreed loans of around £1.2 billion ($1.5 billion) to take control of the parent company of the right-leaning titles. UK Culture Secretary Lucy Frazer said her department had now written to the Barclay family which ow

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UK to probe UAE-backed takeover of Telegraph ...Kuwait

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