Christopher Williams

1 week ago | telegraph.co.uk | Christopher Williams

An 11th-hour attempt to gatecrash the sale of The Telegraph with a "British bid" has been formally rejected. Dovid Efune, the publisher of The New York Sun, has been notified that his latest approach, which includes funding from the hedge fund manager Jeremy Hosking, has been rejected by IMI. It valued the Telegraph at £550m but had only £170m of committed equity and required a level of borrowing that lenders would be unlikely to support, sources said.

1 week ago | msn.com | Christopher Williams

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1 week ago | yahoo.com | Christopher Williams

Labour’s plan to let foreign powers own shares in newspapers has sparked alarm that they could team up to gain sway over Britain’s free press. Lisa Nandy, the Culture Secretary, has proposed laws to allow states to hold passive stakes of up to 15pc in newspapers and news websites.

1 week ago | telegraph.co.uk | Christopher Williams

Ministers have other powers to block foreign investments, such as those they believe are a potential threat to British security, under the National Security and Investment Act. Lord Fox, the Liberal Democrats' culture spokesman in the Lords, backed Baroness Stowell's demand for a rethink and said there were "glaring loopholes ... ready to be taken advantage of by foreign states".

1 week ago | yahoo.com | Christopher Williams

The leader of a bid to disrupt the £500m sale of The Telegraph to a consortium led by RedBird Capital Partners has vowed to fight “to the very end”. Dovid Efune, the publisher of The New York Sun website, made an appearance on Sky News on Sunday to insist that his “British bid for The Telegraph is alive and well, and not going anywhere”. Mr Efune has secured financial backing from the hedge fund manager Jeremy Hosking and Nadhim Zahawi, the former cabinet minister.