Sale of Telegraph paused as consortium pledges to repay Barclay debts

Abu Dhabi-backed RedBird IMI’s announcement casts doubt over auction process

The auction of the Telegraph newspapers and the Spectator titles has been paused after an Abu Dhabi-backed consortium pledged to repay debts owed by their publishing group’s previous owners, the Barclay family.

RedBird IMI, a joint venture between the American firm RedBird Capital and International Media Investments of Abu Dhabi, announced on Monday that it had stepped in to provide loans to the family, allowing them to pay off their debts to Lloyds Banking Group.

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