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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Telegraph takeover by German buyer cleared by culture secretary

Axel Springer Lisa Nandy Mathias Döpfner DMGT Ofcom Barclay RedBird IMI United Kingdom Business Insider TMG
Daily Telegraph front page
Axel Springer announced a deal to acquire the Telegraph in a £575m deal last month. Photograph: Steve Travelguide/Shutterstock

The culture secretary has cleared Axel Springer’s £575m takeover of the Telegraph, paving the way for the end of almost three years of uncertainty over the ownership of the titles.

Lisa Nandy said that she does not believe there are grounds to intervene and refer the deal to the media regulator, Ofcom, for an in-depth regulatory investigation.

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