UAE-backed firm drops its bid to buy the Telegraph trends now
UAE-backed firm drops its bid to buy the Telegraph trends now
The Abu Dhabi-backed investment firm that was trying to take over the Telegraph newspaper group formally abandoned its bid yesterday.
RedBird IMI announced that it is scrapping plans to buy the news publisher, a decision that puts the business back up for sale.
It comes amid moves to bring in legislation to ban foreign states from owning British news titles.
RedBird IMI struck a deal with the Barclay family – long-time Telegraph proprietors – last year
