Abu Dhabi-backed group ends Telegraph takeover bid
An Abu Dhabi-backed group planning to take over Britain's Telegraph Media Group (TMG) said Tuesday it will withdraw and sell on the business after the UK government moved to block the deal. However, last month the UK government said it would bring forward legislation to block such state-backed takeover deals in the industry, while Culture Secretary Lucy Frazer also mulled a full regulator probe.
An Abu Dhabi-backed group planning to take over Britain's Telegraph Media Group (TMG) said Tuesday it will withdraw and sell on the business after the UK government moved to block the deal. However, last month the UK government said it would bring forward legislation to block such state-backed takeover deals in the industry, while Culture Secretary Lucy Frazer also mulled a full regulator probe.
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Phillimon Sefake
Phillimon Sefake is a creative writer and literary scholar
