LONDON, March 9 (Reuters) - British culture minister Lisa Nandy said on Monday she would assess Germany publisher Axel Springer's 575 million pound ($767 million) deal to buy the Telegraph Media Group
UK to review Axel Springer's $767 million deal for Telegraph under media rules
British Government to Assess Axel Springer's Telegraph Acquisition
(Corrects capitalization in "Springer's" in headline)
Background of the Deal
LONDON, March 9 (Reuters) - British culture minister Lisa Nandy said on Monday she would assess German publisher Axel Springer's 575 million pound ($767 million) deal to buy the Telegraph Media Group under Britain's public interest and foreign state influence media mergers regime.
Competing Offers and Regulatory Scrutiny
The deal gatecrashed a competing offer from Daily Mail owner DMGT on Friday last week, which had already been sent for regulatory scrutiny by Nandy.
Official Statement from Lisa Nandy
"I will thoroughly assess the proposed new deal under the public interest and foreign state influence media mergers regime, in my quasi-judicial role, as set out in the Enterprise Act 2002," Nandy said in a written statement.
Additional Information
($1 = 0.7498 pounds)
(Reporting by Sam Tabahriti; editing by Sarah Young)
