Mail withdraws bid for Telegraph

British newspaper group Daily Mail & General Trust has failed in its bid to buy the Telegraph titles, it was confirmed today.

The owner of the Daily Mail and Mail On Sunday said it was no longer involved in the auction for the UK arm of publishing group Hollinger International.

It is thought that offers from Press Holdings – the bid vehicle for the media and property owners the Barclay brothers – and a financial consortium involving the UK investment group 3i remain on the table.