RedBird Capital Partners to acquire The Telegraph, ending ownership battle
The Telegraph is about to be sold to a transatlantic consortium led by RedBird Capital Partners for £500 million, ending two years of uncertainty over its ownership.
RedBird Capital's founder Gerry Cardinale has signed an agreement in principle to acquire control of The Telegraph from the investment vehicle RedBird IMI, which is majority backed by the United Arab Emirates.
RedBird IMI was blocked by the government from taking full ownership of The Telegraph last year after parliamentary concerns over press freedom.
RedBird Capital is expected to be joined in its ownership of the Telegraph by other British media investors.
Lord Rothermere, owner of Daily Mail publisher DMGT, is understood to be in talks with Cardinale over taking a stake in the business of just shy
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