'Russian billionaire in bid to buy British paper' | World News - Hindustan Times
close_game
close_game

'Russian billionaire in bid to buy British paper'

IANS | By, London
Jan 09, 2009 08:25 PM IST

A Russian billionaire and former KGB agent's approach to buy the Evening Standard, London's traditional daily, has been rebuffed by its owners, according to media reports.

A Russian billionaire and former KGB agent's approach to buy the Evening Standard, London's traditional daily, has been rebuffed by its owners, according to media reports on Friday.

HT Image
HT Image

Viscount Rothermere, the controlling shareholder of the Daily Mail and General Trust (DMGT), rebuffed an approach by Alexander Lebedev, former first director of the Soviet spy agency KGB, who made his fortune from banking, the Times reported.

Hindustan Times - your fastest source for breaking news! Read now.

Lebedev is reported to have shown an interest in buying the loss-making title last year but is thought not to have put forward a formal offer, and discussions have lapsed. Rothermere was understood to be against a sale, the paper added.

The Evening Standard, which is more than 150 years old, has struggled to compete against rival papers in recent years, in particular two free eveningers - London Lite, published by DMGT, and the London paper, published by Rupert Murdoch's News International, the parent company of The Times.

DMGT has not spelt out the amount it loses, but its annual deficit is less than 10 million pounds, the Times said.

Lebedev, who is close to former Soviet President Mikhail Gorbachev, was ranked 39th on the Forbes list of Russia's top 100 billionaires before the credit crunch.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away! - Login Now!

Get Latest World News along with Latest News from India at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On