Lloyds Banking Rejects Barclay Family GBP1 Billion Offer for The Telegraph, FT Reports
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-- Lloyds Banking Group rejected a 1 billion-pound ($1.22 billion) offer for British newspaper The Telegraph from the Barclay family, which was backed by Middle Eastern investors, the Financial Times reports citing unnamed sources.
-- The U.K. lender placed the paper--which owes it GBP1.1 billion in debt--into receivership in June. Lloyds told the Barclay family to repay the debt with a transparently-funded offer or bid in a continuing auction, the FT reports.
-- Lloyds Banking Group didn't respond to a request for comment by Dow Jones Newswires.
Full story: https://tinyurl.com/56hdp74t
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
November 02, 2023 07:02 ET (11:02 GMT)
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