Never reaching a decision is the same as a rejection. Staveley clearly stated that this was the PL’s ‘strategy’.
The big six (especially City) didn’t want the deal to go through and so taking no decision ever was the course of action decided to prevent it (as there is no legal reason to block).
The PIF/Saudi government control issue is ludicrous. If Putin told Ibramovich to do something re Chelsea, do you think he wouldn’t do it?