Rupert Murdoch’s News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of Britain’s Telegraph newspaper alongside the UAE-backed investment fund RedBird IMI.

A joint bid by the three would result in a smaller stake for Redbird IMI, Bloomberg News reported on Monday, citing people familiar with the matter.

The Abu Dhabi-backed buyout of the paper, which voices opinions within the governing Conservative Party, has provoked fears of foreign influence in news reporting that opponents say could threaten Britain’s democracy.

News Corp, RedBird IMI, the Daily Mail and the Telegraph did not immediately respond to Reuters requests for comment.