Axel Springer Buys Telegraph for 575 Million Pounds for US Growth

Axel Springer finalized the purchase of the Telegraph for 575 million pounds after a rapid three-day negotiation process.The agreement ends a three-year sale saga for the historic newspaper which was originally seized by Lloyds Bank due to debts.The German media giant plans to expand the conservative title into the US market while promoting transatlantic values.Regulatory bodies Ofcom and the CMA are now reviewing the deal following the block of a previous bid from Abu Dhabi.