Business Services Industry
London's Daily Mail Group Pulls Out of Race for Competitor.
Knight Ridder/Tribune Business News, June, 2004
Evening Standard, London Knight Ridder/Tribune Business News
Jun. 17--Daily Mail and General Trust has pulled out of the UKpound 680 million auction for the Telegraph Group of newspapers.
In a statement to the Stock Exchange today DMGT, owner of the Evening Standard, said: "CVC Capital Partners have been leading a consortium, including DMGT, which has been having discussions with Lazards relating to the sale of certain assets of Hollinger International. These discussions have now been terminated."
The news leaves the final round of the auction open to just two bidders, venture capitalist group 3i and the Barclay brothers.
Both parties are believed to have offered around UKpound 650 million for the Telegraph Group that is being...
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