The Government has stepped in to potentially block the repayment of a loan that would have allowed a UAE-backed group to take control of the Telegraph newspaper.
A group named Redbird IMI, alongside the Telegraph’s previous owners the Barclay family had agreed to repay a £1.16 billion loan to Lloyds Bank, which had taken control of the influential media property earlier this year, and regain control of the paper. Redbird also brought in former CNN boss Jeff Zucker as part of its plan.
