The Daily Telegraph reports that RedBird Capital has withdrawn its bid to purchase the newspaper, citing regulatory scrutiny and internal concerns as the primary reasons. This decision comes after a previous attempt by RedBird to acquire the Telegraph was rejected due to funding concerns from Abu Dhabi’s IMI group. The new bid, which complied with the 15% foreign ownership limit, was still subject to a government review, which RedBird believed would have been successful. However, negative media coverage from the Telegraph’s newsroom and questions about RedBird’s investment sources from China and the Gulf region may have influenced the decision to withdraw. RedBird’s founder, Gerry Cardinale, had planned to expand the Telegraph’s reach and subscriber base in the US, but these plans may now be on hold. The Telegraph has been in a state of limbo for over two years, with the Redbird IMI consortium taking over the debts of the Barclay family. The future of the newspaper remains uncertain, with the government and regulators playing a key role in determining its fate.