UK trade and industry secretary Patricia Hewitt has reviewed the recent £665 million ($1.2bn; €985m) takeover of the Telegraph Group by the Barclay brothers and concluded she does not need to instigate a public interest challenge.
Should Hewitt have deemed it necessary to intervene, the sale would have been referred to media regulator Ofcom, which recently forecast public interest approval for the acquisition [WAMN: 12-Aug-04].
The deal is also being considered by industry watchdog the Office of Fair Trading to determine whether a review is required on competition grounds. The OFT has invited third parties to submit comments by August 27.
Data sourced from: mad.co.uk and Telegraph.co.uk; additional content by WARC staff