Rupert Murdoch and the owner of The Daily Mail have held talks about a potential joint takeover of The Telegraph alongside UAE-backed RedBird IMI, as opposition to its solo bid hardens. Mr Murdoch’s News UK and DMGT, which owns the Daily Mail, have held talks about putting money into the bid, Bloomberg reported, in a move that would dilute UAE money in the takeover. The pressure has forced RedBird IMI to consider rethinking the structure of the deal. Sir Paul is understood to still retain an interest in buying The Telegraph if the RedBird IMI bid ultimately fails. Asource close to Sir Paul said: “If it comes up at the right price and at the right time, he will consider it.”RedBirdIMI, News UK and a spokesman for Sir Paul declined to comment.

Source: Daily Mail March 11, 2024 21:18 UTC