The government has been urged to take control of the sale of the Telegraph through an auction run by a body such as the UK competition regulator or the Cabinet Office.

Peers called on the culture secretary, Lisa Nandy, to wrest the sale process from RedBird IMI, which is majority funded by the United Arab Emirates, in questions put to Labour minister Fiona Twycross in the House of Lords on Wednesday.

RedBird IMI has been forced to restart the sale process after its junior partner in the joint venture, Gerry Cardinale’s US-based RedBird Capital Partners, pulled out of a deal to buy the Daily and Sunday Telegraph on Friday. ‘We’re sick of being the story’: what next for the Telegraph after takeover collapses? Read more

Christopher Fox, the Liberal Democrats business spokesperson in

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