The Barclay family will not contest the liquidation of a key holding company if it fails to repay £1.16bn in loans owned to Lloyds Banking Group by 1 December, Sky News learns.
Lucy Frazer could issue a public interest intervention notice in relation to RedBird IMI’s prospective move to control The Daily Telegraph as soon as this week, Sky News understands.
Flint Global, the public affairs firm set up by Ed Richards, is giving secret advice to RedBird IMI amid growing calls for the government to order an inquiry into the titles’ takeover, Sky News learns.
The Barclay family is aiming to repay a long-standing debt to Lloyds Banking Group within a fortnight to regain control of The Daily Telegraph and Spectator, Sky News learns.
RedBird IMI, a vehicle headed by former CNN president Jeff Zucker, has agreed to finance part of the Barclays efforts to regain control of the broadsheet newspapers, Sky News can exclusively reveal.