Former chancellor Nadhim Zahawi is interested in buying the Telegraph newspapers and Spectator Magazine.
Mr Zahawi, who stood down as a Conversative MP at the general election earlier this month, is thought to be seeking financial backing to fund a bid for the publications, according to a source familiar with the situation.
The Telegraph newspapers and Spectator magazine went back on sale earlier this year after an Abu Dhabi-backed bid for them collapsed.
The deal, which valued the publications at around £600m, would have transferred their ownership to the Gulf-backed Redbird IMI consortium, but the government intervened in January and legislation banning foreign states from owning UK newspapers followed.
