THE city stockbroking firm which masterminded Northumbrian Water's flotation has put in a bid for the Telegraph Group.
Collins Stewart yesterday confirmed it has made an offer thought to be worth up to £500m.
The broker said it would seek an immediate flotation for the Telegraph publishing group, which includes the Daily Telegraph and Sunday Telegraph broadsheets and the Spectator magazine.
It has put together a consortium of pension funds and other institutional investors to bid for the titles, which are being considered for sale by New York-based Hollinger International.
A Collins Stewart spokeswoman said: "I can confirm that the company has put in a bid for the Telegraph publishing group and plans to float it if the bid is successful."
Hollinger International, which owns the Chicago Sun-Times, the Jerusalem Post and other assets, has appointed investment bank Lazard to "review and evaluate its strategic alternatives".
Collins Stewart faces strong competition from media heavyweights in its efforts to gain control of the Telegraph publishing group.
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