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RedBird Capital drops £500m Telegraph takeover bid
US private equity group’s deal collapses amid newsroom criticism and threat of regulator intervention
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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