UAE-backed bid for Telegraph group dealt fatal blow by new legislation

Proposed law published on Thursday will ban foreign states and government officials from holding direct stakes in newspaper assets

The UAE-backed bid for the Telegraph group appears to be dead in the water after the UK published proposed new laws that ban foreign states or government officials from holding any direct stakes in newspaper assets.

Foreign states and government officials will be banned from holding any direct stakes in newspaper assets – effectively dealing a death blow to the £600m bid for the Telegraph group from RedBird IMI, the UAE-backed consortium.

The head of a foreign state.

A foreign government.

Authorities responsible for administering the affairs of an area within a foreign country.

Governing political parties.

Officers of governing political parties.