Proposed Legislation to Prevent UAE Consortium from Acquiring The Telegraph Group
Wednesday, 13 March 2024, 15:16
Telegraph Takeover: New Legislation to Protect UK Assets
The UK government is set to introduce laws preventing foreign states from owning assets within the country. This move could disrupt the proposed £600m acquisition of The Telegraph by a UAE-backed consortium.
Concerns Over Ownership and Control
RedBird IMI, a partnership involving UAE vice-president Sheikh Mansour bin Zayed Al Nahyan and US firm RedBird Capital Partners, is at the center of the prospective deal. The consortium's ambitions face uncertainty under the impending regulations.
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