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LONDON (Reuters) -U.S.-based private investment firm RedBird Capital Partners said on Friday it has withdrawn its 500 million pound ($671.05 million) bid for Britain’s Telegraph Media Group, the publisher of the Daily and Sunday Telegraph newspapers.

"RedBird has today withdrawn its bid for the Telegraph Media Group," a spokesperson told Reuters.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)