Steven Barnett talks to the Guardian about the Barclay family’s plans for the Telegraph

Prof. Steven Barnett has recently spoken to the Guardian about the Barclay family’s plans for the Telegraph. The family had hoped to strike a deal to transfer control of the Telegraph newspaper and Spectator magazine to a consortium backed by the UAE. The move was halted by news that the UK government  is launching an investigation into whether it raises serious public interest concerns. The Barclays are attempting to push through a deal with Lloyds Bank, which took control of the titles in June after the family failed to repay £1.16bn in debt, under which the investment firm RedBird IMI would repay the loans and swiftly move to convert them into equity to take ownership of the titles.

Speaking with the Guardian, Barnett said “This is exactly what RedBird IMI didn’t want and Lloyds Bank will be furious”. he added that “Associated Newspapers and Paul Marshall will be pleased, as well as the Tory MPs on the right of the party who want to ensure that either [Rothermere or Marshall] are the ones that come out victorious.”

The full article can be read on the Guardian Website.

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