|
Re: Telegraph titles being sold - Lloyds bank calls in receivers to parent company
Just to say that Wokingham's favourite newspaper was seized because it was security against a loan to the Barclay brothers.
Quote:
Lloyds Banking Group has taken *control of the Telegraph Media Group (TMG) in an unprecedented move by a bank in modern times.
The lender has appointed receivers to manage the group while investment bankers run an auction which is expected to draw interest from rivals, wealthy individuals and funds potentially linked to Gulf states.
Lloyds has been in dispute with the Barclay family, who have owned The Daily Telegraph since 2004, over debts to its Bank of Scotland subsidiary, allegedly approaching £1 billion, which were secured against the publisher.
|
https://www.telegraph.co.uk/business...arclay-lloyds/
__________________
Seph.
My advice is at your risk.
|