Britain will decide on Tuesday whether to launch a lengthy investigation into a UAE-led takeover of the Telegraph newspaper, a move that could allow a proposed new law to stop the deal, Media Secretary Lucy Frazer said.
The government is amending legislation to ban foreign states from owning newspapers in response to lawmakers' concerns about Abu Dhabi-backed RedBird IMI's bid to buy the Telegraph © Mena Today
Britain will decide on Tuesday whether to launch a lengthy investigation into a UAE-led takeover of the Telegraph newspaper, a move that could allow a proposed new law to stop the deal, Media Secretary Lucy Frazer said.
The government is amending legislation to ban foreign states from owning newspapers in response to lawmakers' concerns about Abu Dhabi-backed RedBird IMI's bid to buy the Telegraph.
"The legislation will come into force after Royal Assent, which I suspect will be in about a month or two months," Frazer told LBC radio. "If the Telegraph case is still live, it will affect it."
Frazer said she would make a statement later on Tuesday laying out her decision on whether to refer the deal to a Phase Two in-depth investigation by the competition regulator.
Reporting by Sachin Ravikumar and Paul Sandle
Abu Dhabi's Mubadala Investment Company applied to Turkey's Competition Board to take sole control of Turkish grocery delivery company Getir Perakende Lojistik, a statement on the board's website showed on Friday.
Amman and Abu Dhabi signed an agreement on Wednesday for a railway project in Jordan that will connect the port of Aqaba on the Red Sea to the mining provinces of Karak and Maan, with the United Arab Emirates investing $2.3 billion.
The United Arab Emirates president has pardoned 57 Bangladeshi citizens who were convicted and sentenced to lengthy prison terms for staging a rare protest in the Gulf country, against their South Asian nation, UAE state media reported.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.