The Abu Dhabi fund bidding for The Telegraph has been granted more time to make concessions to the Government amid concerns about the impact of the deal on press freedom. Culture Secretary Lucy Frazer last week said she was “minded to” refer the planned takeover of the Telegraph by RedBird IMI to an in-depth investigation by the Competition and Markets …
It is understood that RedBird IMI is not in line to take any shares in The Telegraph under the initial terms of the new loan. The Barclay family’s Zucker-backed offer threatens to derail an ongoing auction of The Telegraph being run by Goldman Sachs. Bidders including a consortium led by the hedge fund chief Sir Paul Marshall, the Daily Mail …
