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.
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