As they attempt to gather funding for their proposals, interested parties have been informed the deadline, which occurs just two weeks after the general election, according to information obtained by News.
RedBird IMI, the state-backed entity based in Abu Dhabi that reached an agreement earlier this year to acquire the assets, has started the auction process for the Telegraph titles and The Spectator magazine.
But government involvement in the face of opposition to the idea of a foreign power effectively controlling major national publications dashed its hopes.
A representative for RedBird IMI confirmed last week’s auction debut, saying: “As of today, potential owners can place their opening bids.
“This has been a thorough process which involved speaking to interested parties from around the globe and it is no surprise that interest has remained extremely strong.”
The owner of the Daily Mail, Lord Rothermere, and hedge fund mogul Sir Paul Marshall are anticipated to be among the bidders.
David Montgomery’s company National World is most likely one of the other suitors.
Nearly a year has passed since Lloyds Banking Group took over the parent firms of the Telegraph, which has always been a steadfast supporter of the Conservative Party, following Barclays’ default on loan payments.
