#1 out of 3
business12h ago
Culture secretary to consider investigation into Telegraph takeover by Daily Mail owner
- Culture secretary to assess whether to trigger a public interest intervention over the Telegraph takeover by DMGT.
- RedBird IMI seeks to transfer its right-to-buy option to DMGT as part of the deal process.
- DMGT confirms funding package and aims to proceed toward resolution with Telegraph staff in mind.
- Deal would unite Telegraph titles with Daily Mail brands under DMGT ownership.
- Ofcom and CMA potential review if PIIN is invoked, with up to 40 working days in Phase 1.
- Editorial independence promised; government aims for certainty amid staffing changes.
- RedBird IMI says the sale followed government restrictions on foreign ownership of UK papers.
- DMGT finalizes funding package including cash and a DMGT bond maturing in 2027.
- Analysts see strong clearance potential but expect scrutiny and possible remedies.
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