David Montgomery, the former Mirror newspapers chief, is putting the finishing touches to a line-up of City advisers that he hopes will help him outgun rivals in an auction of The Daily Telegraph.
Sky News has learnt that National World, Mr Montgomery’s London-listed vehicle, is close to appointing Cavendish Capital Markets and Peel Hunt to help raise the financing to buy the broadsheet newspaper and its Sunday sister title.
The two firms will work alongside Rothschild, which is providing corporate finance advice to Mr Montgomery, and Dowgate Securities, its existing broker.
The appointments underline Mr Montgomery’s determination to be a serious contender in an auction which is already generating significant interest from investors in the Middle East and the US.
National World, the latest quoted media vehicle established by the veteran executive, acknowledged last month that it would “consider participating in a sale process for Telegraph Media Group as and when such a process formally commences”.
It is not thought to be interested in acquiring The Spectator magazine, which is also being sold by Lloyds Banking Group, the orchestrator of the auction.
A spokesman for National World declined to comment on the impending appointment of City advisers.
Mr Montgomery’s company owns hundreds of regional titles, but not the asset he most covets – a national daily newspaper.
If he succeeds in raising the capital he needs to submit an offer, he will be up against formidable opposition.
Lord Rothermere, the Daily Mail proprietor, is also piecing together a bid, with Gulf-based investors in talks to finance it.
Last week, Sky News revealed that Paul Zwillenberg, a former chief executive of the Daily Mail’s publisher, was being lined up to advise Sir Paul Marshall, the hedge fund tycoon, on a rival takeover proposal.
Ken Griffin, the Citadel hedge fund billionaire, is also expected to aid Sir Paul’s offer, according to The Daily Telegraph.
Sir Paul, who is…
