News has learned that Dovid Efune—who bought the former daily broadsheet in 2021—has expressed a wish to buy the Sunday sister publication as well as one of the biggest daily newspapers in Britain.
The news outlet Semafor reported on Wednesday night that Mr. Efune has financial support from Oaktree and Hudson Bay Capital in addition to the family office of hedge fund manager Michael Lefell. The specialized investment firm Liontree provides advice to Mr. Efune.
It is anticipated that the Daily and Sunday Telegraph will be sold for between £400 million and £500 million.
The London-listed company National World, led by David Montgomery, and Sir Paul Marshall, who recently paid £100 million for The Spectator, are expected to submit formal bids by September 27, the date for which has been set.
Although industry sources claim Mr. Efune initially started considering a bid when the original Telegraph titles auction began last year, he has not yet been formally connected to the process.
