The owner of the Daily Mail newspaper may attempt to buy rival The Daily Telegraph, according to analysts at broker Liberum Capital Ltd., a deal that would combine two of the U.K.’s most prominent right-wing and Brexit-backing newspapers.
With about 200 million pounds ($245 million) of net cash on its balance sheet after the recent sale of energy-information business Genscape, Daily Mail & General Trust Plc is positioned to pursue its stated preference for bolt-on acquisitions rather than shareholder returns, Ian Whittaker and Harry Read wrote in a note. The Daily Mail declined to comment.
