Murdoch’s News Corp eyes joint Telegraph bid with rivals —Bloomberg
Rupert Murdoch’s News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph alongside the UAE-backed investment fund RedBird IMI, Bloomberg News reported on Monday, citing people familiar with the matter.
A joint bid by the three would result in a smaller stake for Redbird IMI, according to the report.
The Abu Dhabi-backed buyout of the paper, which voices opinions within the governing Conservative Party, has provoked fears of foreign influence in news reporting which opponents say could threaten Britain’s democracy.
READ: Abu Dhabi-backed fund set to seize UK’s Telegraph Media Group
Under one scenario that has been discussed, RedBird IMI would take a stake as low as 25% in the Telegraph in an attempt to satisfy concerns about foreign state interference, Bloomberg News reported.
Article continues after this advertisementNews UK, RedBird IMI and the Telegraph declined to comment, while the Daily Mail did not immediately respond to a Reuters request for comment.