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AP with Indrabati Lahiri

US investment firm Redbird plans to buy Britain’s Telegraph newspaper

RedBird United States Britain RedBird Capital Partners

A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain’s 170-year-old Daily Telegraph newspaper for about £500 million (€595.5m), the two sides said on Friday.

RedBird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending a lengthy takeover saga for the conservative-leaning newspaper.

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