Emirati 'I.M.I' denies Telegraph buyout

The UAE-based company "IMI" rejected the report by the UK's Communications and Media Regulator, Ofcom, concerning Redbird IMI's bid to purchase the British Telegraph newspaper. The company considered that Ofcom's assessment was based on biased assumptions and imposed restrictions on foreign ownership of newspapers in Britain. IMI affirmed that Redbird's offer was not supported by evidence or a proven track record, but rather by the company's origin and not its behavior. The company also noted that assurances were provided to prevent interference in editorial decisions, and that the report failed to acknowledge the company's commitments to safeguard editorial independence. It is worth mentioning that the British government intervened in January 2023 to block the deal on public interest grounds, before the Telegraph Group was sold in June 2023 to a German company for £575 million.

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