Rupert Murdoch has reportedly held talks about a potential joint takeover of The Telegraph newspaper alongside UAE-backed RedBird IMI and DMGT, the owner of The Daily Mail.
IMI, a state-owned Abu Dhabi fund, has provided 75% of the £1.2bn used to buy both The Telegraph and The Spectator, though hostility is rising due to fears over potential state interference.
A joint bid between IMI, News UK and DMGT would dilute the UAE money in the takeover.
The future of the deal remains unclear though, with Culture Secretary Lucy Frazer needing to decide whether to recommend an in-depth investigation into the proposed takeover, which may eventually block the deal.
Shadow Culture Secretary Thangam Debbonaire has already signalled her intentions to block the deal if the issue is ongoing if Labour win the next election.
The hedge fund backer of GB News, Sir Paul Marshall, is also said to be interested.
RedBird IMI, News UK and a spokesman for Sir Paul refused to comment. DMGT has been approached for a comment.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 53-points, at 7,722 shortly after opening this morning.
Brent crude oil futures was up 0.89% today, trading at $82.94 a barrel.
Companies reporting today
- Domino's Pizza - Full Year Results
- Foresight Solar Fund - Full Year Results
- Genuit Group - Full Year Results
- Hill & Smith - Full Year Results
- Pesimmon - Full Year Results
- Target Healthcare - Half Year Results
- TI Fluid Systems - Full Year Results
- TP ICAP - Full Year Results