Sign up for our email featuring expert insight and funding opportunities for entrepreneurs and SMEs Sign up

I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice .

US investment firm RedBird Capital has pulled out of the running to buy The Telegraph after previously agreeing to a deal worth around £500 million.

It throws uncertainty over the future ownership of the 170-year-old newspaper business following a tumultuous takeover process.

RedBird said in May that it had reached an in-principle agreement to become the controlling owner of the business.

But on Friday, it said it had withdrawn its bid for the Telegraph Media Group.

A spokesman said: “We remain fully confident that the Telegraph and its world-class team have a brigh

See Full Page