Future Of British Business
Daily Telegraph Owner Faces Receivership as Talks With Lloyds Falter
- Shares held in Bermudan holding company seized by receiver
- Barclay twins bought titles including Daily Telegraph in 2004
The Daily Telegraph
Photographer: Christophe Morin/BloombergReceivers at Alix Partners have seized shares of the parent company of the Daily Telegraph on behalf of lender Lloyds Banking Group Plc after talks over its debts faltered.
A Bermuda-based company that is the ultimate owner of the Telegraph Media Group, controlled by the Barclay family, was taken over by receivers on Wednesday, according to a person familiar with the matter, who asked not to be named because they are not authorized to talk about it.