The sale of the Telegraph newspapers and the Spectator has kicked off, thwarting a last-ditch attempt by the Barclay family to shut down the auction with a blockbuster £1bn offer.
On Friday morning, the boards of the parent companies of Telegraph Media Group (TMG), the parent company of the Daily Telegraph and Sunday Telegraph, and the Spectator said that the advisers Goldman Sachs had launched a sales process for each of the businesses.
