A former Russian spy is reported to have bought London's Evening Standard newspaper.
The owners of the daily paper said it would be passed into the hands of Evening Press, a company formed by ex-KGB agent Alexander Lebedev and his son Evgeny.
Last week Mr Lebedev, 49, submitted his offer for the paper to Lord Rothermere, the chairman of Daily Mail & General Trust.
Reports suggest the Russian billionaire has received a 76 per cent stake in the newspaper, with the Associated Newspapers retaining the other 24 per cent.
Speaking to the Bloomberg news agency last Wednesday Mr Lebedev said his decision to buy the paper wasn't motivated by money.
"This is not my way to make money but I'd like to explain to the public that newspapers are something they should love and cherish," he said, although he added: "Obviously I would be in charge of the financial side."
Mr Lebedev allegedly became attracted to London while working in the city as a KGB spy, having being based at the Russian embassy until 1992.
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