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The Guardian - UK
The Guardian - UK
Business
Jane Croft

Telegraph up for sale as RedBird IMI walks away after UK backlash

Daily Telegraph newspaper
RedBird IMI effectively took control of the Telegraph newspapers and the Spectator magazine in December. Photograph: Andy Rain/EPA

The United Arab Emirates-backed consortium that proposed a £600m takeover of the Telegraph group is walking away after it said new legislation meant the acquisition was “no longer feasible”, triggering a fresh auction of the newspaper group.

The decision by RedBird IMI – a partnership backed by Sheikh Mansour bin Zayed al-Nahyan, the UAE’s vice-president, and the US investment firm RedBird Capital Partners – puts the newspaper group back up for sale, with several high-profile suitors expected to bid.

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