UK clears Axel Springer takeover of Telegraph newspaper group

​Britain's culture ​minister Lisa Nandy ‌said on ​Friday she would not refer ‌Axel Springer's planned purchase of the Telegraph Media Group to a more ‌detailed competition investigation, clearing the way ‌for the deal to proceed. Nandy said the Public Interest Intervention Notice, known ⁠as PIIN, ​issued ⁠in January 2024, along with the ⁠related public interest merger reference order, had ​ceased to be in force ⁠as a result of her decision.

"I will ⁠not ​be referring this matter to a more in-depth 'Phase ⁠2' investigation by the Competition and ⁠Markets Authority," ⁠she said in a written statement.