Britain will change the law to ban foreign states from owning, influencing, or controlling British newspapers, an individual accustomed to the plans said on Wednesday, a move that would threaten the Abu-Dhabi-backed Redbird IMI bid for the Telegraph newspaper.
The federal government is anticipated to stipulate its own amendment in the beginning of a debate in parliament’s upper House of Lords in a while Wednesday that may give ministers the powers to dam a deal, the person said.
Britain is looking for to ban foreign states from controlling British newspapers just like the Telegraph. Getty Images
The choice comes at a time when Britain is using a separate regulatory process to weigh up whether to permit the bid by Jeff Zucker’s Redbird for the Telegraph.
The battle over one in every of Britain’s most famous newspapers has raised questions on the independence of the media and the role of foreign investors in acquiring assets that would undermine press freedom.
Jeff Zucker’s Redbird, backed by Abu Dhabi, is looking for to purchase the Telegraph. REUTERS
A spokesman for Prime Minister Rishi Sunak said the federal government would lay out its position in a debate in a while Wednesday.
