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
Indian-origin steel tycoon Lakshmi N. Mittal, long considered one of Britain’s wealthiest residents, is reportedly preparing to shift his base away from the UK as Prime Minister Keir Starmer’s Labour government moves ahead with new tax measures targeting the super-rich, The Sunday Times reported.
Dubai has secured its place as the world’s second-largest gold trading hub, despite having no domestic production and limited historical ties to the industry.
The second edition of the CyberQ Conference, organised by the UAE Cybersecurity Council (CSC), opens Wednesday at the ADNEC Centre in Abu Dhabi under the theme “Where Quantum, AI, and Cybersecurity Converge.” The event runs until 27 November.
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.