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The UK government gave the green light on Tuesday for German media group Axel Springer to buy the British daily newspaper The Telegraph, ending a drawn-out pursuit of the 170-year-old title.
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The Labor government’s Culture Secretary Lisa Nandy said in a statement that she is “not minded to intervene in this merger” over competition and foreign-ownership concerns.
Axel Springer, which owns German newspapers Bild and Die Welt as well as the Politico news outlet, last month announced it would pay £575 million (€661 million) in cash for The Telegraph’s print and online versions.
That came after the UK government launched an investigation in February into an agreed sale of The Telegraph to the owner of the Daily Mail, a rival British right-wing publication, citing competition concerns.
That probe has been made redundant by the government’s approval of the German takeover.
“After a long period of uncertainty, we can confirm that we will invest significantly in The Telegraph’s editorial excellence and international growth,” Axel Springer chief executive Mathias Döpfner said in a statement Tuesday.
“The Telegraph will join a global network committed to independent reporting while retaining its distinct editorial voice and British identity.”
An international pursuit of The Telegraph stretches back almost three years.
RedBird IMI, a joint venture between US investment firm RedBird Capital and Abu Dhabi’s International Media Investments, had struck a deal for the title in late 2023.
However, the previous UK government triggered a swift resale over freedom-of-speech concerns owing to Abu Dhabi’s press censorship record.
RedBird then pursued the takeover under a revised structure, but abruptly dropped its bid in late 2025.
The Daily Mail then agreed a £500-million (€575 million) deal with US-Emirati consortium RedBird IMI in November for the purchase.
Amid the takeover saga, the previous Conservative government also amended merger laws to bar foreign states from controlling British newspapers.
Additional sources • AFP