Barclay family ‘on course’ to regain control of Telegraph
The Barclay family has edged closer to a deal to repay more than £1.1 billion owed to Lloyds Banking Group and regain control of The Daily and Sunday Telegraph newspapers.
The papers and The Spectator magazine were put up for sale after Lloyds appointed receivers to their parent company in June, when the bank lost patience with the family over longstanding debts.
However, a proposal last week by the family fully to repay the lender, using financing from Abu Dhabi, helped to break a deadlock between the two sides, although it faces opposition from Conservative MPs worried about the papers falling under foreign influence.
Lloyds had rejected previous proposals from the Barclays because they did not involve the full repayment of the family’s debts,
