Thread: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
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Old 07-06-2023, 14:55   #1
1andrew1
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Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Wonder who will buy the titles?
Quote:
Telegraph titles set to be sold after Lloyds calls in receivers

UK bank to seek sale of media group over almost £1bn in debts owed by Barclay family

Lloyds Banking Group will seek a sale of the Telegraph Media Group after pushing its parent group into receivership over debts owed by the Barclay family, according to people familiar with the matter.

The UK bank has put B.UK, a Bermudian-based holding company that ultimately controls the Telegraph titles and the Spectator magazine, into receivership, the people said. AlixPartners has been appointed as receiver at B.UK, they added.

The scale of the debts suggests that Lloyds would struggle to recover the full value of the loans, given that analysts estimate the titles are worth between £500mn and £700mn. Neither the Telegraph Media Group nor Press Acquisitions will be put into administration.
https://www.ft.com/content/1e16e3b9-...7-81e4cf5b1164
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