Inside the Lords battle on foreign media ownership
From our UK edition
After a two-year impasse, the future of the Daily Telegraph could be resolved shortly. A £500m deal has been struck for US firm Redbird Capital to take control of the Telegraph Media Group, with state-backed Abu Dhabi investment vehicle IMI among investors. But a fresh challenge has arisen in the House of Lords. Peers are threatening to block minister's efforts to change the law to give foreign companies a greater stake in British media outfits – up from the existing five per cent to 15 cent. This is a necessary legal change to allow the Telegraph sale to go ahead. A 'fatal motion' will be held in the Lords on Tuesday; if passed, it would kill the government's plans. It is a device seldom wielded by peers, having been last used in 2012.