Sponsored by
Independent owner close to deal over debt
THE publisher of the Independent newspaper is thought to be close to a debt-for-equity deal that would end uncertainty over its finances after months of talks with lenders.
It would allow Anthony O'Reilly, Independent News & Media's former chief executive, to remain the largest shareholder of the publisher whose titles range from the Irish Independent to South Africa's Cape Times. But the deal may be challenged by Denis O'Brien, the second-biggest investor, who wants the loss-making London-based Independent sold.
The media group has been trying for months to refinance an overdue 200 million (179m) senior bond and sources said a deal would involve about 100m to 120m being swapped for a stake in the company, followed by a rights issue to pay the rest.
Email to a friend
Print this page- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 11 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
