Berlin's Axel Springer secured formal approval from the UK government to acquire the Telegraph Media Group, concluding a protracted three-year sales saga for the British newspaper publisher. Culture Secretary Lisa Nandy confirmed she was “currently not minded to intervene” following a review into foreign state influence and public interest concerns.

RedBird IMI, the US-Emirati entity that controlled the right-leaning publisher, can now proceed with selling the call option to Axel Springer for £575mn. This approval clears a major hurdle after the lengthy process saw off various suitors, including Abu Dhabi interests, following an “auction from hell.”

The German firm, which also owns Politico and Business Insider, effectively gazumped a prior agreed deal with DMGT owner, The Daily Mail. Executives anticipate using the Telegraph as a platform for aggressive digital investment and expansion into the crucial US market.

With regulatory sign-off expected this quarter, contingent only on final approvals in Ireland and Austria, the deal solidifies Axel Springer’s ambition to build a truly international publishing powerhouse. The Telegraph is expected to receive substantial investment while retaining its editorial integrity.