Redbird had previously said its Telegraph deal was a "new era" for the paper

Redbird has pulled out of its £500m bid to buy the Daily Telegraph in a move that will plunge the broadsheet into further uncertainty and leaves the paper without a long-term owner for more than two-and-a-half years.

The US private equity giant had been the sole buyer willing to stump up the half a billion-pound valuation demanded by a consortium it had arranged with the Abu Dhabi investment fund IMI.

The joint venture had taken control of the Telegraph Media Group (TMG) in 2023 from Lloyds bank, after the title was seized from former owners the Barclay family in 2023. But that deal was thwarted by ministers in the former Conservative government after concerns were raised about a foreign nation state owning a

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