Lebedev closer to Independent deal
Published 18/03/2010 | 05:00
ALEXANDER Lebedev moved closer to buying the London 'Independent' and the 'Independent on Sunday' yesterday after the UK Office of Fair Trading (OFT) ruled that the deal would raise no competition issues.
Mr Lebedev is in negotiations with Independent News & Media to buy the London titles. The OFT said that the acquisition did not constitute a "relevant merger situation" because the turnover of the 'Independent' and the 'Independent on Sunday' was less than £70m (€78m) and the combined market share of the the 'Independent' and the 'Evening Standard', which is 75pc owned by Mr Lebedev, was less than 25pc.
Facebook tops Google hits
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Jobless drop boosts sterling
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US producer prices dip
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Chinese taxi 'takeaway'
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