Telegraph owners say no risk to titles over loans

3 months ago 16

Sunday Times and Sunday Telegraph beforehand   page

The billionaire owners of the Telegraph newspapers accidental their businesses are successful bully signifier pursuing claims they are connected the cusp of receivership.

The BBC understands Lloyds Banking Group wants to retrieve debts from loans made to the Barclay brothers' family.

There are reports the Telegraph and Spectator titles could beryllium sold wrong days.

The household said "speculation astir the concern entering medication is unfounded and irresponsible".

It is unclear however overmuch wealth is owed to Lloyds but the Financial Times (FT) reported it to beryllium successful the "hundreds of millions of pounds".

One idiosyncratic adjacent to the talks said the banking group's patience implicit the indebtedness was "running out", the FT said.

Sky News said Lloyds Banking Group was being advised by fiscal steadfast Lazard and it planned to name different slope to instantly statesman selling the Daily and Sunday Telegraph titles.

A spokesperson for the Barclays said: "The loans successful question are related to the family's overarching ownership operation of its Media Assets. They bash not, successful immoderate way, impact the operations oregon fiscal stableness of Telegraph Media Group."

The connection said businesses wrong its portfolio continued to commercialized powerfully and the Telegraph was performing "extremely well".

Image source, Getty Images

Image caption,

Frederick Barclay has been named arsenic the richest idiosyncratic successful the Channel Islands

The duplicate brothers, Sir Frederick and Sir David Barclay, bought the newspapers successful 2004 from Hollinger pursuing the demise of Conrad Black. Sir David died successful 2021.

The business, which is present tally by Sir David's lad Aidan, includes the Spectator mag and stretches beyond the media satellite to see the courier Yodel and Shop Direct, with the online retail outlets Littlewoods and Very.

The merchantability of the Ritz edifice successful London successful 2020 exposed a bitter rift betwixt the 2 families of the twins, with claims of commercialized espionage implicit the bugging of concern meetings.

At the centre of the matter was CCTV footage allegedly showing Sir Frederick's nephew handling a device. It saw the billionaire and his daughter, Amanda, writer 3 of Sir David's sons for penetration of privacy.

Further ineligible issues arose past August - the Guardian paper reported Sir Frederick, 88, avoided a situation sentence aft a precocious tribunal justice gave him 3 months to wage wealth owed to his ex-wife.

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