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The Guardian - UK
The Guardian - UK
Business
Alex Lawson

Sale of Telegraph paused as consortium pledges to repay Barclay debts

David Barclay Frederick Barclay RedBird IMI RedBird Abu Dhabi BUK Lloyds Spectator
Frederick Barclay and David Barclay in 1999
Frederick Barclay and David Barclay in 1999. The Barclay family used to own the Telegraph. Photograph: James Fraser/REX/Shutterstock

The auction of the Telegraph newspapers and the Spectator titles has been paused after an Abu Dhabi-backed consortium pledged to repay debts owed by their publishing group’s previous owners, the Barclay family.

RedBird IMI, a joint venture between the American firm RedBird Capital and International Media Investments of Abu Dhabi, announced on Monday that it had stepped in to provide loans to the family, allowing them to pay off their debts to Lloyds Banking Group.

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