Billionaires add Telegraph to portfolio

THE billionaire Barclay brothers added the Daily Telegraph to their portfolio of British newspapers after agreeing a £260 million (€377m) takeover of Hollinger Inc.

Billionaires add Telegraph to portfolio
Mon, 19 Jan, 2004 - 00:00
David Winning

They announced the signing of an "irrevocable agreement" with Ravelston, owned by Lord Black of Crossharbour, to buy its 78% stake in the Canadian company.

The deal was agreed in New York on Saturday night with ownership of Hollinger Inc transferring to Press Holdings International (PHI) owned by Sir David and Sir Frederick Barclay.

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