Conservative UK Newspaper Telegraph Bidder Scrambles for Investors: Report

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The New York publisher who is now the lead bidder for the Telegraph, the British Conservative Party’s newspaper of record, is still working to assemble investors to back the $550 million deal.

Dovid Efune, the bidder, has approached the group founded by the conservative American business figure Charles Koch, Stand Together, the organization confirmed.

Efune, the publisher of the New York Sun, was reportedly poised to enter exclusive talks to buy the Telegraph Media Group from the Abu Dhabi-backed investment fund that acquired it from its owners, the Barclay Brothers, but was blocked by the British government from taking it over. A person familiar with the talks said the parties have still not entered the exclusivity period, which had been expected to begin Wednesday.

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