Former Finance Minister Nadhim Zahawi Eyes Multi-Million Pound Bid for Daily Telegraph

Nadhim Zahawi, Britain's former finance minister, is preparing a £600 million bid to acquire the Daily Telegraph, its Sunday edition, and the Spectator magazine. Zahawi, who exited parliament in May, is seeking billionaire investors to back his offer, according to Sky News.

Nadhim Zahawi, Britain's former finance minister, is reportedly putting together a £600 million ($776.34 million) bid for the Daily Telegraph. Sky News revealed this development on Monday.

Zahawi, who stepped down from parliament in May after deciding not to run again for his Stratford-on-Avon seat, has approached several billionaire backers to help finance his offer for the Daily Telegraph, its Sunday sister title, and the Spectator magazine, the report said.

(At current rates, $1 is equivalent to 0.7729 pounds.)

(With inputs from agencies.)