UK's Snub of Telegraph Bid Risks Souring Wider UAE Relationship [Financial Post (Toronto, Ontario, Canada)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — A disastrous United Arab Emirates-backed bid to buy the Telegraph could complicate billions of dollars in further commitments to the UK, some in the British establishment fear. As the UK increasingly turns to the Gulf to fulfill its needs for foreign investment, the messy row over one of Britain's most storied newspapers could hurt the wider relationship and put future investment in doubt, several senior figures with links to the Middle East said. Article content Article content “The UK has benefitted greatly from the investments made by the UAE during my time and it wouldn't surprise me if they are now having second thoughts about the attractiveness of the UK as an investment destination,” said Gerry Grimstone, the UK's former investment minister who negotiated a deal in 2021 for the UAE to invest £10 billion ($12.8 billion) in areas such as li
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Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/24/24 - Form 6-K
- LYG's page on the SEC website