UK approves Axel Springer's acquisition of Telegraph Media Group
UK Culture Secretary Lisa Nandy said the deal to sell Telegraph Media Group to the German media group Axel Springer will not be referred for an in-depth investigation by the Competition and Markets Authority (CMA). The public interest intervention notice issued in January 2024 has lapsed. The Telegraph has been under external management since 2023 following debts incurred by the Barclay family; earlier, the RedBird IMI consortium, backed by the UAE, tried to complete the deal, but after a ban on foreign state ownership was introduced it abandoned the purchase and passed the rights to Axel Springer.
Aziz Karimov