LONDON, Nov 22 (Reuters) - British media minister Lucy Frazer said on Wednesday she was "minded to" intervene in a proposed debt repayment deal that could see Abu Dhabi-backed RedBird IMI take ownership of the Daily Telegraph, saying she had concerns.
The sale of Telegraph Media Group and The Spectator magazine was paused on Monday until Dec. 4, according to reports to give Lloyds Banking Group time to consider a 1.2 billion pound ($1.50 billion) debt repayment plan put forward by previous owners the Barclay family, backed by Redbird IMI.
Under the plan, RedBird IMI, which is led by former CNN executive Jeff Zucker, could end up owning the titles through a debt-for-equity swap, reports have said.
Frazer said she had written to Lloyds, the Barclay family and RedBird - the current and proposed new owners of Telegraph Media Group - to inform them of the possible public interest intervention notice, it said in a statement.
"This (the letter) relates to concerns I have that there may be public interest considerations... that are relevant to the intended loan repayment by the Barclay family and the planned acquisition of Telegraph Media Group by RedBird IMI, and that these concerns warrant further investigation," she said.
"It is important to note that I have not taken a final decision on intervention at this stage."
The right-leaning titles, which carry political clout in Britain, are being sold after Lloyds Banking Group in June seized control of the parent company in a long-running dispute with former owners the Barclay family.
Groups that have confirmed interest, or have been reported to be interested, include Daily Mail owner DMGT, Belgium publisher Mediahuis, National World, hedge fund founder Paul Marshall and Czech billionaire Daniel Kretinsky.
($1 = 0.8025 pounds) (Reporting by Paul Sandle, William James and Muvia M; Editing by Jan Harvey)
