Telegraph sold for £575m as German buyer elbows out Daily Mail
by Mark Sweney from World news | The Guardian on (#7420R)
Axel Springer, owner of Bild and Die Welt, agrees all-cash deal for one of UK's oldest newspapers
The European media group Axel Springer is to acquire the Telegraph after tabling a 575m deal that has scuppered a rival deal from the owner of the Daily Mail.
Axel Springer, which owns Europe's biggest newspaper, Bild, and the daily Die Welt, has agreed an all-cash deal for Telegraph Media Group (TMG), the owner of the Daily and Sunday Telegraph.
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