Telegraph attracts takeover interest amid latest auction deadline

The bidding warfare to bargain the Telegraph paper concern is moving nearer to its decision amid the latest deadline for takeover offers.

Potential suitors to bargain the Telegraph Media Group person until the extremity of Friday to taxable second-round offers.

It is understood astatine slightest 3 parties, including some UK and planetary firms, are successful the framework to bargain the business.

It is the latest signifier of a twisting ownership process for the historical London-based publisher.

The company, and chap work The Spectator, were primitively enactment connected the marketplace past twelvemonth successful bid to assistance erstwhile owners, the Barclay family, repay dense debts to lenders astatine banking steadfast Lloyds.

Following this process, Abu-Dhabi backed media capitalist RedBird IMI took power of the Telegraph Media Group and the Spectator.

RedBird IMI is an concern money majority-owned by Sheikh Mansour bin Zayed Al Nahyan, vice president of the United Arab Emirates (UAE) and proprietor of Manchester City Football Club.

It is besides backed by US concern absorption steadfast RedBird Capital and is led by erstwhile CNN brag Jeff Zucker.

The woody drew fierce disapproval implicit escaped code concerns earlier it was yet blocked by the Government earlier this year.

As a result, RedBird IMI launched a caller merchantability process to merchantability connected the titles.

Earlier this month, it sold The Spectator to hedge money tycoon Sir Paul Marshall’s OQS Ventures concern for £100 million.

RedBird IMI whittled down imaginable funny parties to bargain the Telegraph earlier successful the summertime aft an archetypal deadline for indicative offers.

It is understood that Sir Paul Marshall is inactive among those progressive successful the auction process to bargain the Telegraph, with fiscal enactment from US billionaire Ken Griffin.

Yorkshire Post proprietor National World is besides understood to beryllium successful the process to onslaught a takeover deal.

Potential rival bidders besides see erstwhile chancellor Nadhim Zahawi, who approached a fig of imaginable financiers successful caller months to assemble a bid.

Private equity steadfast CVC, which owns sports brands including the Six Nations and La Liga, has besides held talks astir a imaginable offer, but it is not cognize if it remains successful the process.