Ofcom will not investigate Saudi investment in Standard
Ofcom has said there are no public interest grounds to warrant an investigation into the purchase of shares in the Evening Standard and Independent by a Saudi Arabian investor.
The media regulator found that Mohamed Abuljadayel's investments had not resulted in any influence being wielded over the newspapers' editorial lines.
The government has now said that it will not push for a further inquiry.
Mr Abuljadayel bought his 30 per cent stakes in the Standard and the Independent in 2018 and 2017 respectively.
As The Times reports, the shares in the Standard were bought from Evgeny Lebedev, the son of a former KGB spy who now controls the paper.
Lebedev said on Twitter yesterday that the independence of both newspapers had been "completely vindicated by Ofcom."