London – The Daily TelegraphThe 150-year-old British newspaper has been put up for sale after its parent company, B.UK, entered insolvency proceedings.
The move may present a rare opportunity to purchase a property with strong ties to Conservative Party of UKIt marks the erosion of the trading empire of the Barclay family, once one of Britain’s wealthiest clans.
It held B.UK, a Bermuda-based holding company that controlled Lloyds Banking Group telegram and political magazine the observer, judicial recovery this week. The lender said it took the action as a “last resort” in trying to recover the debt from B.UK’s owner.
AlixPartners, the restructuring firm appointed by the bank to oversee the process, said it had taken control of the media assets to facilitate a resolution, which “could involve a sale. telegram From this the observerThe bank added that the bank is open to further negotiations with the owner of B.UK, which is managed by the Barclay family.
A spokesman for the family said the loans in question were related to the ownership structure of its media assets and would “in no way affect the operations or financial stability of the Telegraph Media Group”./Dow Jones Newswires
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