A “preliminary” deal to end the two-year ownership impasse at the Daily Telegraph has been agreed, according to the newspaper.
It reported on Friday that a consortium led by US firm Redbird Capital was set to take control, with state-backed Abu Dhabi investment vehicle IMI among the investors.
Prospects for a deal were held up by the previous Conservative government’s ban on foreign state ownership of UK newspapers, but those rules were relaxed earlier this month to allow IMI’s involvement.
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