Culture Secretary Steps in After Tory MPs Call for Telegraph Sale to Be Paused

Published on December 1, 2023

The culture secretary, Lucy Frazer, has stepped in amid concerns about the proposed sale of the Daily Telegraph and its sister titles to a venture partly financed by the vice president of the United Arab Emirates. RedBird IMI—a joint venture with an investment fund owned by Sheikh Mansour bin Zayed Al Nahyan, vice president of the UAE, and owner of Manchester City Football Club—has agreed to buy the Telegraph Media Group in a deal which would pay off a debt of around £1 billion which the Barclay family owes to Lloyds. Ms. Frazer triggered a Public Interest Intervention Notice (PIIN) under section 42(2) of the Enterprise Act 2002 a week after she wrote to RedBird IMI, saying she was “minded to” intervene....

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