Russian oligarch Lebedev close to buying The Independent for a pound

LONDON - Former KGB agent and the new owner of the London Evening Standard newspaper, Alexander Lebedev is reportedly just days away from a deal to buy The Independent for a nominal one pound.

According to the Daily Express, the Russian oligarch is in the final stages of negotiations to purchase the title and its sister paper the Independent on Sunday from Independent News and Media (INM).

INM is understood to have offered to take on some of the costs of the 10-year contract.

Last year, Lebedev bought the Evening Standard from Daily Mail owner Daily Mail and General Trust, also for a pound. (ANI)