West Ham shareholder Daniel Kretinsky has now entered the auction to acquire the UK’s Telegraph Media Group, joining bidders including Daily Mail and General Trust, people close to the process have told the Financial Times.
Křetínský, is the second highest shareholder in the Hammers, owning 27% and signed a non-disclosure agreement last week to join the auction process for the parent company of The Daily Telegraph, Sunday Telegraph and The Spectator magazine.
He has sold his stake in French newspaper Le Monde, it has been confirmed. French billionaire Xavier Niel has bought Křetínský out of his stake in Le Monde.
The €50m deal was agreed privately in the past month and Křetínský will largely break even on his initial investment made in 2018, the French media claimed.
Niel’s holding company NJJ Presse, confirmed this week that it had bought Křetínský’s stake and made an “irrevocable commitment” to transfer the shares to the foundation.