A group of cross-party MPs and peers has urged an investigation into the funding of RedBird Capital's £500 million takeover of the Telegraph. The letter to culture secretary Lisa Nandy raises concerns about potential Chinese state influence, given the chairman's connections to China's sovereign wealth fund and Communist Party. While RedBird contends that no Chinese state funds are involved, the MPs stress a lack of transparency regarding funding sources and the need for an inquiry to investigate national security implications. The deal awaits regulatory approval.
A group of MPs is urging an investigation into RedBird Capital's takeover of the Telegraph due to concerns over transparency and potential foreign influence, particularly from China.
The MPs highlighted a risk of foreign state funding for RedBird Capital, particularly given its chairman's past dealings with China's sovereign wealth fund and Communist Party officials.
With calls for a transparent investigation, the signatories emphasize the importance of understanding potential national security implications related to this media acquisition.
Despite assurances from RedBird about the absence of Chinese state funds, concerns remain regarding the funding origins and the implications for UK media ownership.
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