Submitted by Sunil Kumar on Mon, 02/15/2010 - 09:48
Independent News & Media has announced it has given Russian billionaire Alexander Lebedev more time to conclude a proposed takeover of Independent News & Media's UK national newspapers.
IN&M said that it extended the deadline from February 15th to February 26th.
Alexander Lebedev has been pursuing talks with IN&M to acquire the loss-making the Independent and Sunday Independent since the end of previous year.
Latest reports suggest that differences over how much of IN&M's debts would come with the Independent, are delaying the deal.
Shareholders in IN&M are also reportedly keen sell the Independent titles as circulation of both papers have been falling.
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