Gerry Cardinale’s Redbird, to buy a telegraph newspaper in £ 500 million

Unlock the editor’s digestion free

FT editor Roula Khalaf, chooses his favorite stories in this weekly newsletter.

Redbird Capital partners have finished one of the most stretching and tortured sales in a British newspaper on the deadline, the Telegraph Media Group agreed to receive a transaction in £ 500 million.

Reddolt The only management owner, the owner, Abu Dhabi’nin, leaving the Imi with a minority, changed the law to prevent the British government’s support by foreign state.

Sales Telegraph The Lloyds banking group has been launched two years ago when the TVClay family, which has been telegraph since 2004.

A bargain to obtain a telegraph media group by Redbird IMI, with a quarter of the Funding of Abu Dhabi, about $ 550 million Blocked by the former conservative government. Last week, the British government confirmed the plans to schedule foreign state property in 15 percent of the English national newspapers.

Redbird, Rothermere’s Dodave Mail, Rothermere’s DMGT, including DMGT, is also negotiating with a number of England-based investors to join a consortium.

Qerry Cardinale, Gerry Cardinale, said: “This operation said,” This operation, the beginning of a new era to grow a brand in the UK and international levels, investing in technology and expand its subscriber base. “

Cardinale said he would work to complete the process of acquisition with the UK government and regulators. First financial time New offer reported Manage the newspaper with the participation of Cardinale and RotherMere.