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The Government is considering a public interest intervention into an agreement which could hand an Abu Dhabi-backed fund control of the Telegraph newspaper, the Culture Secretary has announced.
The news comes after Abu Dhabi-backed fund RedBird IMI said on Monday that it was poised to take control of the Telegraph Media Group.
A JV backed by Sheikh Mansour bin Zayed Al Nahyan's media investment vehicle claims to have “reached an agreement" to bring the Telegraph and Spectator out of receivership.
Abu Dhabi-backed investment fund RedBird IMI has paved the way to take control of the Telegraph and Spectator publications after agreeing loans to repay debts owed by previous owners, the Barclay family.
Receivers at AlixPartners officially launched a sale process last month, with a deadline of Tuesday November 28 for approaches.