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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Telegraph sold for £575m as German buyer elbows out Daily Mail

Axel Springer Daily BILD Die Welt Mathias Döpfner RedBird IMI DMGT United Kingdom
The Daily Telegraph newspaper on sale at a shop in Victoria, London
The Daily Telegraph has been up for sale for about three years, during which deals have fallen apart or been blocked. Photograph: James Manning/PA

The European media group Axel Springer is to acquire the Telegraph after tabling a £575m deal that has scuppered a rival deal from the owner of the Daily Mail.

Axel Springer, which owns Europe’s biggest newspaper, Bild, and the daily Die Welt, has agreed an all-cash deal for Telegraph Media Group (TMG), the owner of the Daily and Sunday Telegraph.

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