Kwarteng uses national security law to halt Truphone asset sale
They added that Mr Koc had indicated that he and his fellow acquirer, Pyrros Koussios, were prepared to exclude that contract from their purchase of Truphone's assets.
It is said to be within weeks of running out of cash, which could mean its directors have little option but to place it into administration if the deal fails to go through.A sale process has already been run for Truphone over recent months, with Mr Koc being selected as the preferred bidder on an exclusive basis.
The oligarch has already presided over the most prominent sale of a British asset since Vladimir Putin's invasion of Ukraine, in the form of the £2.5bn sale of Chelsea Football Club.That listed in Frankfurt last year, and although its valuation has since fallen in line with listed technology stocks around the world, it crystallised Mr Koc's status among the super-rich.
In total, more than 200 transactions were notified to the government during the first three-month period after the act became law, with 17 deals being called in by officials.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Drax coal-fired power plants to stay open over Russia gas supply fearsEnergy secretary Kwasi Kwarteng says retaining Drax's coal-fired units is a 'sensible precaution'.
Read more »
Dates revealed for third kit sale and away kit launchIt will be a while longer yet before the new Hornets' third kit - unveiled by Sir Elton John - will be on sale WatfordFC
Read more »
Security warning after sale of stolen Chinese dataPublic bodies are told to be on guard after hacker tries to sell data of one billion Chinese citizens.
Read more »
Man charged with stalking offences under new law 'infatuated' with victimThe court was told of alleged sustained harassment of the victim by the accused over several months
Read more »
How will your payslip be impacted by the new national insurance threshold?Here are the answers to some of the questions people may have about the NI change
Read more »
Newcastle United official announcement - Benfica tickets go on saleNewcastle United official announcement - Benfica tickets go on sale nufc
Read more »