LONDON, Jan 20 (Reuters) - British culture minister Lisa Nandy said on Tuesday she was "not minded" to intervene in the sale of the Telegraph newspaper for 500 million pounds ($672.30 million) to
UK minister 'minded' to intervene over Telegraph newspaper sale
UK Minister's Position on Telegraph Sale
LONDON, Jan 20 (Reuters) - British culture minister Lisa Nandy said on Tuesday she was "minded" to intervene in Daily Mail owner DMGT's proposed 500-million-pound ($673 million) takeover of the Telegraph newspaper, a move that would trigger regulatory scrutiny.
Background of the Telegraph Sale
The Telegraph has been in limbo since 2023, when RedBird IMI - a joint venture between U.S.-based RedBird Capital and Abu Dhabi's International Media Investments - attempted to buy it. That deal stalled after Britain introduced limits on foreign ownership of newspapers.
Public Interest Considerations
Nandy said she was "minded to intervene on the following public interest grounds", citing the need for both a plurality of views and sufficient plurality of those with control.
Potential Regulatory Actions
The minister added that she was not minded to intervene under the separate Foreign State Influence regime, but said she would act if new information emerged pointing to foreign-state involvement.
"It is important to note that I have not taken a final decision on intervention at this stage," Nandy said in a statement, adding that her "minded to" letter gives the parties until January 26 to respond before she makes a final decision.
If Nandy issues an Intervention Notice, the media regulator Ofcom would assess the public-interest issues, while the Competition and Markets Authority would report on whether the deal creates a relevant merger and what it could mean for competition.
($1 = 0.7427 pounds)
(Reporting by Sarah Young, writing by Sam Tabahriti; Editing by Ros Russell)
