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The Culture Secretary has made a new intervention in the planned takeover of Telegraph Media Group (TMG) by the Abu Dhabi Support Fund.
Lucy Fraser has issued a new Public Interest Intervention Notice (PIIN), extending the deadline for Ofcom and the Competition and Markets Authority (CMA) to submit their findings into the takeover.
Her department sent a letter to lawyers representing the Berkeley family and TMG's current and prospective owners, Redbird IMI, expressing concerns about “the need for accurate presentation of news and free expression of opinion in Tokyo.” informed the decision taken by. newspaper”.
She had already activated a PIIN in November to investigate the potential impact on press freedom if the Daily Telegraph and The Spectator were taken over by Redbird IMI as proposed.
Mr Fraser said the new reporting deadline for Ofcom and the CMA was 9am on March 11.
The new intervention comes as Redbird IMI, an investment fund majority-owned by UAE Vice President Sheikh Mansour bin Zayed Al Nahyan, establishes a holding company for the UK-based Telegraph newspaper. This was done after announcing a new corporate structure.
On Friday, TMG bosses resigned from the newspaper with immediate effect amid a takeover plan.
Anna Jones, the media group's first female boss, will succeed Nick Huw, who has served as business director since 2017.
She will be tasked with steering the business through the turmoil of an attempted takeover by RedBird IMI.
The foundation announced in November that it had reached an agreement with the Barclays to take control of the newspaper group and the Spectator magazine by repaying debts to its Lloyds bank.
The government's new intervention comes as The Spectator chairman Andrew Neil becomes the latest person to rally against the potential takeover and call on ministers to block the deal. .
The journalist and broadcaster told the BBC he would quit his role at the 200-year-old publication if the “absurd” takeover went through.