Telegraph takeover: UK planning new laws to prevent foreign states owning assets

New legislation could thwart planned £600m purchase of media group by UAE-backed consortium

The UK government plans to introduce legislation that would prevent foreign governments owning UK newspapers and magazines in a move that could scupper the planned £600m sale of the Telegraph to a UAE-backed consortium.

RedBird IMI – a partnership between IMI, a fund backed by the UAE’s vice-president, Sheikh Mansour bin Zayed Al Nahyan, and the US investment firm RedBird Capital Partners – is seeking to acquire one of the UK’s most influential newspaper groups.