Abu Dhabi-Backed Fund Seeks Telegraph Takeover Amid Financial Irregularities Probe

RedBird IMI promises to protect journalism, while the National Crime Agency investigates suspected financial irregularities from previous ownership.

Abu Dhabi-backed fund, RedBird IMI, is seeking to acquire The Telegraph and The Spectator magazine, promising to protect journalism through an 'editorial charter' and a trust of media luminaries.
RedBird IMI's bid is largely funded by Sheikh Mansour bin Zayed bin Sultan al-Nahyan, owner of Manchester City Football Club and vice-president and deputy prime minister of the United Arab Emirates (UAE).
Jeff Zucker, former CNN chief and head of RedBird IMI, insists that the UAE will remain a 'passive investor' with no influence over editorial decisions.
The National Crime Agency (NCA) has been alerted to suspected financial irregularities at The Telegraph, linked to the Barclay family's previous ownership.
The takeover is under scrutiny by Ofcom, which must deliver recommendations to the Culture Secretary Lucy Frazer by January 26, and could potentially be blocked by the Competition and Markets Authority.