Dovid Efune's Telegraph Bid Faces Uncertainty as Key Backer Withdraws

Despite losing Oaktree Capital's support, Efune remains optimistic about securing necessary financing for the Telegraph acquisition.

Dovid Efune, owner of the New York Sun, is in exclusive talks to acquire the Daily and Sunday Telegraph for £550 million.
Oaktree Capital, a major potential backer, has withdrawn from the deal, raising concerns about the bid's viability.
Efune is working with LionTree investment bank to secure alternative financing and remains confident in completing the acquisition.
RedBird IMI, the current owner, is seeking to recoup its £600 million investment after a failed takeover due to new UK legislation.
Other potential bidders, including National World and DMGT, are preparing for a possible third auction if Efune's bid falters.