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this cultural secretary has said she intends to scrutinize the proposed £500m take over telegraph by owner daily mailciting significant competition concerns.
Lisa Nandy Notify both parties telegraph On Tuesday, the Daily Mail and General Trust (DMGT) said she was “intended to intervene” in the deal on the grounds of public interest.
DMGT agreed to acquire telegraph From Red Bird IMI.
An Abu Dhabi-backed investment firm previously tried to acquire the newspaper group, but was blocked by the then-Conservative government.
Last month, DMGT confirmed it had successfully secured the funding it needed to continue its bid.
This specifically has to do with whether there are “enough perspectives” and “enough controllers,” she said.
As such, she is particularly keen to assess whether the deal will impact newspaper customers by reducing the number of publications owned by different parent companies.
The acquisition will see The Telegraph become part of the DMGT media organization, which also includes Metro, The I Paper and New Scientist.
Ms Nandy said: “It is important to note that I have not made a final decision on intervention at this stage.
“This ‘interest in’ letter invites further written submissions from all parties and asks them to respond by 9am on Monday 26 January.
“If I decide to issue an intervention notice, the next stage would be for Ofcom to assess and report to me on public interest issues, and for the Competition and Markets Authority (CMA) to assess and report to me whether a relevant merger has been formed and any impact this may have on competition.”
The Telegraph and DMGT have been contacted for comment.