The Independent and Evening Standard could face investigation over Saudi links

The Independent and Evening Standard could face investigation over Saudi links
A mysterious Saudi investor has bought a stake in the two of the UK's leading newspapers.
2 min read
13 June, 2019
The Evening Standard is one of the UK's best-read dailies [Getty]

Newspapers The Independent and The Evening Standard could face an inquiry after a Saudi businessman bought stakes in the British media outlets.

The investigation could look into whether the media outlets would be able accurately present news and guarantee freedom of speech due to the Saudi connection, according to The Guardian.

Culture Secretary Jeremy Wright said he couled intervene in the sale of 30 percent of the holdings in the two media giants to Saudi banker Sultan Muhammad Abuljadayel.

"If I decide to issue an intervention notice, the next stage would be for Ofcom to assess and report to me on the public interest concerns and for the Competition and Markets Authority to assess and report to me on whether a relevant merger situation has been created and any impact this may have on competition," he said.

He referred to the Enterprise Act 2002 which states "the need for (a) accurate presentation of news; and (b) free expression of opinion" in newspapers.

The newspapers are owned by Lebdev Holdings, which sold the stake to a Cayman Islands-registered company, later revealed to be owned by Abuljadayel, who also has links to Saudi's state-owned bank.

The Independent recently opened a number of foreign-language outlets, including The Independent Arabia with the Saudi Research and Marketing Group, despite Riyadh facing criticism for huge human rights abuses and detaining activists and critics.

Saudi Arabia is among the worst in the world for press freedom, while figures connected to the kingdom's effective-ruler Crown Prince Mohammed bin Salman allegedly murdered Saudi journalist Jamal Khashoggi in Istanbul.