Foreign governments will be banned from owning UK newspapers and magazines, a minister has confirmed, amid concern over the UAE-backed takeover of the Telegraph.In the face of cross-party pressure and a threatened defeat in the House of Lords, the Government has said it will bring forward an amendment to the Digital Markets, Competition and Consumers Bill that would block such deals.The move was prompted by concern about the proposed takeover of the Daily Telegraph and The Spectator by Redbird I

Foreign governments will be banned from owning UK newspapers and magazines, a minister has confirmed, amid concern over the UAE-backed takeover of the Telegraph.In the face of cross-party pressure and a threatened defeat in the House of Lords, the Government has said it will bring forward an amendment to the Digital Markets, Competition and Consumers Bill that would block such deals.The move was prompted by concern about the proposed takeover of the Daily Telegraph and The Spectator by Redbird IMI, an investment fund majority-owned by Sheikh Mansour bin Zayed Al Nahyan, vice president of the United Arab Emirates (UAE) and owner of Manchester City Football Club.