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Al-Houthi: We find ourselves in the most sacred battle and the greatest position. We do not consider the sacrifices to be wasted losses; rather, we have given everything for the sake of this stance.
Al-Houthi: The Zionist scheme is undoubtedly a plot to enslave and exploit this nation. This is a fact, not an exaggeration.
Al-Houthi: Great sacrifice in the path of God only increases our steadfastness, determination, certainty, resilience, and cohesion.
Al-Houthi: The Zionist crime confirms the importance of Yemen's conscious and insightful position based on constants, values, and human ethics.
Al-Houthi: The Israeli enemy is a criminal who proves its brutality and monstrosity through all its criminal practices, void of any controls.
Al-Houthi: The Israeli enemy's record is one of terrible and horrific crimes, full of bloodshed against the Palestinian people and people in Lebanon, Syria, Iraq, and Iran.
Al-Houthi: The crime of targeting ministers and civilian workers adds to the Israeli enemy's criminal record in the region.
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Al Mayadeen's correspondent: An Israeli drone targeted a residential apartment in the al-Natour Square in the Sheikh Radwan neighborhood of Gaza City

Barclay family's Telegraph reclamation bid bolstered by UAE cash

  • By Al Mayadeen English
  • Source: News Websites
  • 29 Aug 2023 15:09
2 Min Read

The parent companies of the Daily and Sunday Telegraph titles, along with the Spectator, fell into receivership in June, presenting an unusual opportunity for wealthy investors to take charge of a prominent British newspaper conglomerate.

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  • A woman reads a copy of the Daily Telegraph newspaper in London, on May 21, 2009. (AFP)
    A woman reads a copy of the Daily Telegraph newspaper in London, on May 21, 2009. (AFP)

The Barclays family is reportedly making an attempt to regain control of the Telegraph newspaper group, with financial backing from Middle Eastern investors.

This move comes a few months after they surrendered the struggling business to Lloyds Banking Group due to debts. The parent companies of the Daily and Sunday Telegraph titles, along with the Spectator, fell into receivership in June, presenting an unusual opportunity for wealthy investors to take charge of a prominent British newspaper conglomerate.

Notable media figures considering bids are said to include Lord Rothermere, owner of the Daily Mail, and National World, a regional newspaper business led by David Montgomery.

The Barclays have proposed repurchasing around £1 billion of debt from Lloyds. This initiative is backed by anonymous investors from Abu Dhabi. The proposal involves buying back debt for up to £600 million, with potential benefits from the writeback of the debt's value due to previous write-downs by Lloyds.

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Lloyds is expected to proceed with an auction process conducted by Goldman Sachs, slated to begin in the coming months. Regulatory concerns might complicate the acquisition of the Telegraph titles and the Spectator.

A potential bid by Rothermere could attract government scrutiny over media plurality. The involvement of foreign investors in the Barclays' bid might also raise concerns.

The Barclays are optimistic about convincing Lloyds that their bid won't require an extended clearance process, which could otherwise extend beyond the next UK general election, potentially affecting the takeover's outcome. Other potential bidders include hedge fund leader Sir Paul Marshall and Czech billionaire Daniel KÅ™etínský.

The Telegraph newspaper group was previously chaired by Aidan Barclay, a nephew of Sir Frederick Barclay, who, along with his brother Sir David Barclay, oversaw the acquisition of The Telegraph in 2004.

Read next: Vice's censorship concerns: Blocking stories that could upset MBS

  • Barclays
  • Lloyds Banking Group
  • UAE
  • Telegraph
  • United Kingdom

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