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The Guardian - UK

Business

Mark Sweney

Efune insists his Daily and Sunday Telegraph bid is still on track

Sunday Telegraph Dovid Efune Oaktree Sun United States RedBird IMI Spectator

Person holds copy of The Daily Telegraph, front page headline says Boris Is A Good Guy — Speculators have thought the bid may fall apart, resulting in a third auction of the titles. Photograph: Jonathan Brady/PA

The British owner of the New York Sun has said his £550m offer to buy the Daily and Sunday Telegraph is still on track, despite a big potential backer not joining the bid.

Dovid Efune entered exclusive talks to buy the Telegraph titles last month after submitting the highest bid in the second round of the auction for the titles.

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