Daily Mail seeks help from Qatar in bid for Telegraph

Lord Rothermere’s Daily Mail and General Trust newspaper group has held talks with potential backers from Qatar over a possible combined bid for the Telegraph Media Group, owner of the Daily and Sunday Telegraph print and online titles.

DMGT, owner of the Daily Mail, The Mail on Sunday and Metro newspapers, is in discussions over additional equity to finance a bid for the titles that could cost more than £500 million, the Financial Times reported.

Lloyds Banking Group seized control of the business from the Barclay family in June after the breakdown of talks over £1 billion of debts owed by the Barclays to the bank. It is understood that the bank has written down the value of the loans in recent years.

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