RedBird Capital withdraws bid for UK’s Telegraph newspaper

LONDON (Reuters) -U.S.​-based private ‌investment firm RedBird Capital ‌Partners said on Friday it has withdrawn its 500 million pound ⁠($671.‌05 million) bid for Britain’‍s Telegraph Media Group, the publisher of the ​Daily and Sunday ‌Telegraph newspapers.

“RedBird has today withdrawn its bid for the Telegraph Media Group,”⁠ a ​spokesperson told Reuters.

(​$1 = 0.7451 pounds)

(Reporting ‍by ⁠Sam Tabahriti in London, additional reporting ⁠by Rishab Shaju in Bengaluru;‌ Editing by ‌Leroy Leo)