Telegraph sale poised to go ahead after Lords foreign ownership vote

Consortium led by RedBird Capital in line to buy group for £500m, in deal that would result in UAE retaining 15% stake

The sale of the Telegraph looks set to finally go through after government legislation to allow foreign states to own up to 15% in British newspapers survived a potentially fatal vote in the House of Lords.

Gerry Cardinale’s RedBird Capital is leading a consortium looking to buy the Telegraph for £500m, in a deal that would result in the United Arab Emirates retaining a stake of 15%.

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from World news | The Guardian https://ift.tt/K3lLGqy