Rishi Sunak is considering introducing new powers to allow ministers to prevent a foreign state from owning a British news organisation, as pressure mounts from within the ruling Conservative party to block the takeover of Telegraph Media Group by Abu Dhabi-backed RedBird IMI.
The British prime minister is exploring the possibility of amending existing legislation, such as the 2002 Enterprise Act, to give the government the power to step in, according to people close to the situation.
Downing Street is facing increasing calls from Conservative MPs to intervene in the £600mn takeover of Telegraph Media Group by Redbird IMI, because of the close links between the newspaper and the Tories.
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