Mind the Gulf: Britain thwarts UAE takeover bid for Telegraph newspaper | EUROtoday

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The newspaper business could also be in duress, however a legacy model like The Daily Telegraph within the UK continues to be a horny asset that wields appreciable affect. Former CNN president Jeff Zucker led a consortium to purchase the paper that was primarily backed by cash out of the United Arab Emirates. The three way partnership had an formidable imaginative and prescient, with hopes of increasing The Telegraph within the United States. But they by no means left the beginning block. After weeks and months of rising strain from British Conservative MPs, the federal government ordered a prolonged evaluate of the takeover. However, earlier than that course of finishes, an amended legislation will come into drive that bars overseas state possession of a British newspaper.