Deadline looms for Telegraph takeover offers
The bidders have been given until Thursday to submit firm bids for the title, which was put up for sale after a bitter dispute between its owner, Hollinger International and then chief executive Conrad Black. The deadline was confirmed in a memo from interim chief executive Gordon Paris to Hollinger employees. But whether the Telegraph will be sold on its own or as part of a sale of the entire Hollinger group remains unclear. Sources close to the situation say investment bank Lazard, which is running the sale, is waiting to see bids next week before consulting with Hollinger's board and making a final decision.
"Next Thursday is the really interesting time," said one source close to the situation. "They'll look at those (Telegraph) proposals alongside the proposals for the entire company and do an analysis of the two possible routes."
