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RedBird Capital drops £500m Telegraph bid
Move follows criticism from newsroom over US private equity group’s links to China
RedBird Capital has dropped its £500m bid for the Telegraph Media Group, throwing the future of its daily and Sunday titles into further uncertainty.
The private equity group founded by Gerry Cardinale has been under intense attack in recent weeks with the Telegraph newsroom – and allies including former editor Charles Moore and ex-Spectator chief Fraser Nelson – publishing a string of pieces calling for its links to China to be investigated.
Source: www.theguardian.com
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