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Investors in Britain's biggest high street bank are in line for a big windfall from a deal that will see £1.16bn owed to it by the Barclay family repaid in full, Sky News learns.
The culture secretary is expected to issue a public interest intervention notice in relation to RedBird IMI's prospective takeover of the newspaper later on Thursday, Sky News learns.
Lloyds Banking Group, the Barclay family and RedBird IMI will notify Lucy Frazer on Wednesday that a £1.16bn loan tied to the Daily Telegraph is ready to be repaid, Sky News learns.
The government is considering issuing a hold-separate order that would prevent the Barclay family exerting control over The Daily Telegraph, Sky News learns.
The Prime Minister made the remarks after Culture Secretary Lucy Frazer said she was 'minded' to launch a regulatory review of the sale by issuing a public interest notice.