Britain’s Telegraph newspaper group is back up for sale Tuesday after a United Arab Emirates-backed consortium pulled out of a takeover bid following strong opposition from the U.K. government.
Abu Dhabi-backed investment fund RedBird IMI said it was withdrawing from the proposed acquisition of the Telegraph Media Group, which owns the right-leaning Daily Telegraph and Sunday Telegraph newspapers and The Spectator magazine.
The takeover faced a backlash from Britain’s government, which voiced concerns about the impact on freedom of expression and accurate presentation of news. Last month the government said it was bringing forward legislation to block foreign state ownership of British newspapers and magazines.
Comments
No comments on this item Please log in to comment by clicking here