Abu Dhabi-Backed Takeover of The Telegraph Sparks Controversy
Culture Secretary Lucy Frazer and Deputy Prime Minister Oliver Dowden under pressure to intervene on national security grounds.
- The Telegraph and Spectator magazine, currently owned by Lloyds Bank, are on the verge of being taken over by Abu Dhabi-backed investment group IMI Redbird.
- The deal, which could be finalized as soon as Friday, has sparked controversy due to concerns over potential foreign interference in the UK's media landscape.
- Culture Secretary Lucy Frazer has indicated she may issue a Public Interest Intervention Notice (PIIN), which would trigger regulatory scrutiny of the bid.
- More than a dozen Conservative MPs have written to Deputy Prime Minister Oliver Dowden, urging him to intervene in the deal on national security grounds.
- The UAE's close ties with China and its track record on press freedom and human rights have been cited as reasons for concern.