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Figures involved in a rival bid for the Telegraph are drawing up legal action against the government, after ministers gave the owner of the Daily Mail<\/a> permission to take a significant step towards clinching its \u00a3500m takeover.<\/p>\n The Telegraph titles, which include the daily and Sunday editions, have been in limbo for three years after previous owners, the Barclay family, lost control of them over huge unpaid debts.<\/p>\n Last week, Lisa Nandy, the culture secretary, lifted restrictions that had stopped Daily Mail and General Trust (DMGT), the company controlled by the Daily Mail owner Lord Rothermere, from acquiring the option to buy the Telegraph.<\/p>\n Being able to own the option would mark the latest step in its attempt to finally wrest control of the titles.<\/p>\n The option is currently held by RedBird IMI, the Abu Dhabi-backed venture that has been forced to sell the Telegraph titles after a change in the law preventing such a degree of overseas state ownership of a newspaper group.<\/p>\n However, it is understood that figures involved in a rival bid for the Telegraph led by Dovid Efune<\/a>, the British owner of the New York Sun, are now examining a potential judicial review of the government\u2019s decision to allow the option to be transferred.<\/p>\n They are concerned that the decision risks prejudicing the outcome of months of regulatory investigations over the Telegraph\u2019s sale to Rothermere\u2019s group. Regulators<\/a> are examining the deal\u2019s impact on media plurality and competition.<\/p>\n It is understood there is also concern that, should Rothermere\u2019s bid be blocked, having the option on the Telegraph\u2019s ownership would effectively put it in charge of selling it on, giving DMGT control over which rival bids are accepted.<\/p>\n A spokesperson for the consortium did not comment.<\/p>\n DMGT struck a deal<\/a> to buy the Telegraph titles in November, entering a period of exclusivity with RedBird IMI.<\/p>\n