Telegraph plan troubles Tories
A last-ditch attempt by the Barclay family to repay its debt to Lloyds involves finance from Abu Dhabi
The Telegraph has been under Lloyds’s control since June
ALAMY
Conservative politicians are calling on ministers to scrutinise a last-ditch attempt by the Barclay family to regain control of the Daily and Sunday Telegraph newspapers and The Spectator magazine.
The call comes after Sky News reported that Abu Dhabi was backing an attempt by the Barclays to repay the £1.15 billion owed to Lloyds Banking Group. The funding would come from RedBird IMI, an Abu Dhabi-financed media and sports investment fund run by Jeff Zucker, the former CNN chief, and a member of Abu Dhabi royalty.
It is thought the scope for the government to intervene in a deal will hinge on the way the transaction is structured.
Conservative MP Neil O'Brien urged the government to put the deal under close scrutiny
TIMES PHOTOGRAPHER RICHARD POHLE
Neil O’Brien, the MP for Harborough, said any transaction should be assessed by the Department for Digital,
