Fresh Bids Flood In For Hollinger Assets

21 May 2004

The latest deadline for bids in the Hollinger International assets auction passed Thursday -- and early signs are that at least six groups are still in the running.

It is thought the latest offers -- in the region of £600 million ($1 billion; €892m) -- have focused on UK unit Telegraph Group, parent of broadsheet papers the Daily and Sunday Telegraph plus The Spectator magazine.

A report in the New York Times suggests bidders that made the deadline include German newspaper giant Axel Springer, the billionaire Barclay twins, venture capitalist 3i Group, British publisher Daily Mail & General Trust, and private equity firms Candover and Apax Partners.

It is not yet clear whether groups that made an offer for the whole of Hollinger in the first round -- including Kohlberg Kravis Roberts and a consortium of Axel Springer, billionaire Haim Saban and Hellman & Friedman -- have made similar bids this time round.

Data sourced from: New York Times; additional content by WARC staff