He has approached various billionaire backers about serving to to finance a suggestion for the every day newspaper, its Sunday sister title and the Spectator journal
Learn extra…
Copies of The Every day Telegraph are displayed on a rack in a grocery store in London, Britain,on January 20, 2024. — Reuters file
Britain’s former finance minister Nadhim Zahawi is assembling a 600 million pound ($776.34 million) bid for The Every day Telegraph, Sky Information reported on Monday.
Zahawi, who left parliament in Might after opting to not stand once more in his Stratford-on-Avon seat, has approached various billionaire backers about serving to to finance a suggestion for the every day newspaper, its Sunday sister title and the Spectator journal, in response to the report.
The Reuben household, which owns an enormous swathe of property belongings and a stake in Newcastle United Soccer Membership, was amongst these to have been sounded out by Zahawi in latest weeks, Sky Information mentioned.
Zahawi is claimed to be conducting talks a few bid for the Telegraph instantly with Worldwide Media Investments (IMI), the Abu Dhabi-based car which holds a majority of RedBird IMI, in response to Sky Information.
Zahawi didn’t instantly reply to a Reuters request for remark.
RedBird IMI successfully took management of the Telegraph and the Spectator journal in December when it repaid a debt owed by its then-owner, the Barclay household, to Lloyds Financial institution.
However the acquisition, which already confronted a prolonged regulatory inquiry, was dealt a blow in March when Britain mentioned it might cease international governments proudly owning newspapers.
Zahawi just isn’t but thought to have submitted a proper provide however is claimed to be assured of securing adequate financing firepower to desk a aggressive bid, Sky Information mentioned.
Final 12 months, Zahawi was sacked as Conservative Get together chair after an investigation discovered he dedicated a severe breach by not being open a few tax probe.
He has approached various billionaire backers about serving to to finance a suggestion for the every day newspaper, its Sunday sister title and the Spectator journal
Learn extra…
Copies of The Every day Telegraph are displayed on a rack in a grocery store in London, Britain,on January 20, 2024. — Reuters file
Britain’s former finance minister Nadhim Zahawi is assembling a 600 million pound ($776.34 million) bid for The Every day Telegraph, Sky Information reported on Monday.
Zahawi, who left parliament in Might after opting to not stand once more in his Stratford-on-Avon seat, has approached various billionaire backers about serving to to finance a suggestion for the every day newspaper, its Sunday sister title and the Spectator journal, in response to the report.
The Reuben household, which owns an enormous swathe of property belongings and a stake in Newcastle United Soccer Membership, was amongst these to have been sounded out by Zahawi in latest weeks, Sky Information mentioned.
Zahawi is claimed to be conducting talks a few bid for the Telegraph instantly with Worldwide Media Investments (IMI), the Abu Dhabi-based car which holds a majority of RedBird IMI, in response to Sky Information.
Zahawi didn’t instantly reply to a Reuters request for remark.
RedBird IMI successfully took management of the Telegraph and the Spectator journal in December when it repaid a debt owed by its then-owner, the Barclay household, to Lloyds Financial institution.
However the acquisition, which already confronted a prolonged regulatory inquiry, was dealt a blow in March when Britain mentioned it might cease international governments proudly owning newspapers.
Zahawi just isn’t but thought to have submitted a proper provide however is claimed to be assured of securing adequate financing firepower to desk a aggressive bid, Sky Information mentioned.
Final 12 months, Zahawi was sacked as Conservative Get together chair after an investigation discovered he dedicated a severe breach by not being open a few tax probe.
