Zahawi seeks Mansour"s support for Telegraph bid

Sir Mohamed Mansour, a prominent figure in the Conservative Party, has been approached by Nadhim Zahawi regarding financial support for a bid to acquire The Daily Telegraph. Zahawi, the former chancellor, is optimistic about making a competitive offer in the coming weeks, having also engaged with other wealthy individuals, including members of the Reuben family. The auction process is being overseen by Gulf-based IMI, which is controlled by Sheikh Mansour bin Zayed Al Nahyan. Zahawi's interest in the Telegraph follows discussions with Boris Johnson about a potential executive role within the newspaper group. This move indicates Zahawi's ambition to play a significant role in the media landscape. The Telegraph is expected to be sold for between £400 million and £500 million, with a deadline for formal bids set for September 27. In addition to Zahawi's bid, there are other contenders, including Dovid Efune, who has raised the possibility of Conrad Black's return to the British newspaper group. Black, a former proprietor of the Telegraph, has a controversial history, including a conviction for fraud and subsequent pardon by President Trump. The recent sale of The Spectator magazine to Sir Paul Marshall for £100 million highlights the ongoing changes in ownership within the media sector. As the auction for the Telegraph progresses, various stakeholders are positioning themselves, indicating a dynamic and competitive environment for media acquisitions in the UK.