Lebedev reportedly in talks to buy The Independent

RUSSIAN billionaire and one-time KGB spy, Alexander Lebedev, is understood to be locked in advanced talks to buy London-based The Independent and the Independent on Sunday.

Following a year of negotiations the sale of the newspapers, which are owned by Independent News and Media (INM) could conclude by the end of this month, according to reports yesterday.

According to one report a nominal offer for the two titles has already been tabled and discussions have been held over the new management structure for a combined entity.