Daily Mail & General Trust has hired Merrill Lynch to evaluate its options in the potential bidding war for the Telegraph Group, which runs the UK flagship newspapers of Hollinger.

Merrill won the mandate because the Daily Mail's long-standing mergers and acquisitions bank, Lazard, is advising Hollinger on the potential sale of the Telegraph newspapers and its other assets. This is the first time Merrill has worked with the Daily Mail, whose corporate broker is Cazenove.