U.S. RedBird Capital Pulls Out of USD657M Telegraph Bid

2025-11-15 03:23:15

(MENAFN) US-based investment giant RedBird Capital has officially withdrawn from its £500 million (approximately $657 million) pursuit of the Daily and Sunday Telegraph, concluding a lengthy battle over ownership of one of Britain's leading newspaper enterprises.

The firm's initial takeover effort collapsed after UK ministers raised objections regarding substantial financing from IMI Group, an Abu Dhabi–controlled entity.

Authorities subsequently enacted legislation capping foreign sovereign wealth fund ownership in British newspapers at 15%.

A RedBird spokesperson told media that the firm remained confident in the Telegraph's "bright future" and would work to support a solution "in the best interests of employees and readers."

RedBird has encountered mounting scrutiny over its financial backing from Chinese and Gulf region investors.

IMI Group—which settled outstanding debts owed by the Telegraph's previous proprietors, the Barclay family—stated it maintained its dedication to establishing sustainable ownership for the publications and continues discussions with prospective purchasers.

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