Скачать или смотреть RedBird IMI & UAE Using Fear to Takeover The Telegraph!

Blocked from taking over The Telegraph, the UAE is still seeking opportunities to influence its operations. In January 2025, RedBird IMI urged its executives to cut over 100 jobs to meet ambitious profit targets. The firm didn’t take over the newspaper, but remains influential and controls the paper’s future.

In a tense meeting, RedBird partner David Castelblanco advised The Telegraph to “forget” the idea of onward sale. The Abu Dhabi fund made these comments despite a previous commitment to sell the paper to new owners. Castelblanco specifically urged The Telegraph’s leadership, CEO Anna Jones and chairman Mike McTighe, to implement significant job cuts.

The suggested cuts would eliminate about 10% of the workforce, mainly from non-editorial roles. He also recommended halting the planned editorial investment, such as the expansion of the US newsroom. RedBird is legally prohibited from making strategic decisions, including layoffs or editorial interference, despite owning debt secured against The Telegraph.

The intervention raised concerns about potential undue pressure on the British newspaper from a foreign state. The Abu Dhabi fund didn’t propose a specific redundancy program, but provided feedback on the timing of potential changes. Leader of the Liberal Democrats, Sir Ed Davey criticized the situation, stating it has dragged on for too long.

Expressing concerns over RedBird’s actions, he called on Culture Secretary Lisa Nandy to set The Telegraph sale’s deadline. He also called on the British government to ensure the Abu Dhabi fund is “not improperly meddling” in the paper’s affairs. An investigation led by Nandy into the UAE-backed take over bid of The Telegraph was previously suspended for auction.

Now, there is mounting pressure on her to act, with the option to refer the situation to the CMA (Competition and Markets Authority). CMA investigation could result in a forced sale of The Telegraph, with an independent auction seeking a market price. RedBird IMI said it has no role in managing the newspaper, and is focused on securing a sale that ensures its stability.

A government spokesman clarified that the sale process is currently being managed by RedBird IMI, and Nandy will only comment once a regulatory decision is made. However, RedBird's suggestion to “forget the deal” indicates that their efforts to secure a sale have failed.

RedBird’s Castelblanco also mentioned that the Abu Dhabi fund could consider holding The Telegraph in the long term. While the UK government aims to protect its national security by preventing foreign involvement, the actions of the UAE-backed fund are sparking doubts about the Emirates’ true intentions.

#UAE #RedBirdIMI #thetelegraph

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