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Efune insists his £550m bid for Telegraph titles is still on track
The Guardian
|November 15, 2024
The British owner of the New York Sun has said his £550m offer to buy the Daily and Sunday Telegraph is still on track, despite a big potential backer not joining the bid.
Dovid Efune entered exclusive talks to buy the Telegraph titles last month after submitting the highest bid in the second round of the auction for the titles. Manchester-born Efune has until the end of this month to navigate the due diligence process to prove that he has successfully secured the funding to back his offer.
He has been working with LionTree, the boutique investment bank, as an adviser to help secure financial backers to clinch the deal.
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