RedBird IMI is holding out for a combined valuation of at least ￡600mn for the Telegraph newspaper and Spectator magazine ahead of first-round bids on Friday.
The Daily Telegraph and Spectator sale has attracted close to 20 interested parties, including private equity investors and individual billionaires, according to people briefed about the matter.
RedBird IMI — the Abu Dhabi-backed investment group whose bid for the British broadsheet was blocked by the UK government earlier this year — intends to sell the assets for at least ￡600mn.
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