UK to allow Abu Dhabi-backed group to sell Telegraph newspaper

The British government said on Tuesday it would allow RedBird IMI to conduct an "orderly transition" after the Abu Dhabi-backed company dropped the proposed buyout of the Telegraph newspaper.

“I will now allow the parties to conduct an orderly transition and I will monitor the outcome with a view to taking any further regulatory action as required under the Enterprise Act," British Culture Secretary Lucy Frazer said.