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The Guardian - UK

Business

Mark Sweney

Peers call for independent body to take control of Telegraph sale

CMA RedBird IMI Lisa Nandy Barclay Fiona Twycross the Cabinet Office Lloyds Bank

Image shows the masthead the Telegraph. — The Telegraph has been on the market for more than two years after Lloyds Bank seized control from the Barclay family. Photograph: Richard A Brooks/AFP/Getty Images

The government has been urged to take control of the sale of the Telegraph through an auction run by a body such as the UK competition regulator or the Cabinet Office.

Peers called on the culture secretary, Lisa Nandy, to wrest the sale process from RedBird IMI, which is majority funded by the United Arab Emirates, in questions put to Labour minister Fiona Twycross in the House of Lords on Wednesday.

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