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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

RedBird Capital drops £500m Telegraph takeover bid

RedBird Capital RedBird China Cai Qi Gerry Cardinale John Thornton Lisa Nandy IMI RedBird IMI the Telegraph Media Group
Daily Telegraph
The Telegraph’s future has been uncertain since the Barclay family lost its grip on the media group in 2023. Photograph: Matt Cardy/Getty Images

RedBird Capital has dropped its £500m bid for the Telegraph Media Group, throwing the future of its daily and Sunday titles into further uncertainty.

The private equity group founded by Gerry Cardinale has been under intense attack in recent weeks with the Telegraph newsroom – and allies including the former editor Charles Moore and the ex-Spectator chief Fraser Nelson – publishing a string of pieces calling for its links to China to be investigated.

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