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Stock impact report

RedBird Capital in talks to buy The Telegraph from its own fund [Yahoo! Finance]

Lloyds Banking Group Plc American Depositary Shares (LYG) 
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
Company Research Source: Yahoo! Finance
RedBird Capital has been approaching potential investors to help it acquire the company from RedBird IMI, the fund which was blocked from ownership last year. The discussions are being led by RedBird Capital founder Gerry Cardinale, who was not previously closely involved in the saga. It is understood he has taken a more direct interest in The Telegraph's future in recent months based on a growing belief in its potential for growth in the United States as a quality centre-Right news outlet. A spokesman for RedBird Capital said: “Gerry Cardinale's RedBird Capital is evaluating the possibility of becoming the sole control owner of the Telegraph Media Group.” RedBird IMI, a fund in which RedBird Capital is a 25pc shareholder, has for a year been attempting to recoup its outlay of more than £500m. It positioned itself to take control of The Telegraph by paying off the overdue debts of the Barclay family to Lloyds Banking Group but was blocked by legislation following a parliamentar Show less Read more
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