Telegraph takeover: UK planning new laws to prevent foreign states owning assets
by Jane Croft from on (#6KAGA)
New legislation could thwart planned 600m purchase of media group by UAE-backed consortium
The UK government plans to introduce legislation that would prevent foreign governments owning UK newspapers and magazines in a move that could scupper the planned 600m sale of the Telegraph to a UAE-backed consortium.
RedBird IMI - a partnership between IMI, a fund backed by the UAE's vice-president, Sheikh Mansour bin Zayed Al Nahyan, and the US investment firm RedBird Capital Partners - is seeking to acquire one of the UK's most influential newspaper groups.
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