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The Guardian - UK

Business

Mark Sweney

‘We’re sick of being the story’: what next for the Telegraph after takeover collapses?

RedBird RedBird IMI Gerry Cardinale Paul Marshall Spectator IMI RedBird Capital Charles Moore Chris Evans Leonard Blavatnik

Copies of the Daily Telegraph newspaper on sale — The price of the Telegraph group has been the biggest sticking point in achieving a sale. Photograph: James Manning/PA

The withdrawal of the bid for the Telegraph led by RedBird Capital has once again plunged the future of the titles into uncertainty, and raises questions over the dogged refusal of its sellers to drop the eye-watering £500m asking price that had driven away other potential suitors.

On Friday, a consortium that also included UAE fund International Media Investments (IMI) as well as the owner of the Daily Mail and the billionaire Sir Leonard Blavatnik, dropped its bid abruptly with no explanation given.

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