Last-Minute Adjustments by Abu Dhabi-Backed Firm to Telegraph Deal Attract Fresh Scrutiny in the UK

Abu Dhabi-supported RedBird IMI's last-minute changes to its bid for the Telegraph newspaper have triggered additional UK government review.

Media minister Lucy Frazer, concerned about potential foreign influence on the paper's editorial independence, mandated a probe last year.

The Telegraph, a conservative-leaning voice with historical significance in UK politics, remains under Barclay family ownership; however, it was set to transition to RedBird IMI through a debt-for-equity deal until the government intervened.

Recently, a UK minister and several MPs have contested RedBird IMI’s acquisition efforts over concerns of UAE influence. The competition and media regulators were assessing the takeover's implications on journalistic integrity and were due to conclude their evaluation.

On Tuesday, RedBird IMI altered its acquisition structure, stating it would be a passive investor without management or editorial control.

Despite this, Frazer is unsatisfied and is pushing for a new investigation, with a deadline for the Barclay family and RedBird IMI to respond to the latest developments. Frazer criticized the timing of RedBird IMI's structural changes as disruptive to the review process.