- News>
- Business
Indian Hinduja family to bid for Express newspapers
Hinduja group, a UK business owned and run by four billionaire Indian-born brothers, has expressed an interest in buying Britain`s Express newspapers from the UK media company group United News and media.
Hinduja group, a UK business owned and run by four billionaire Indian-born brothers, has expressed an interest in buying Britain's Express newspapers from the UK media company group United News and media.
No price was mentioned, but industry sources said that the bid due to be delivered to United today or tomorrow would be in excess of offers that are already on the table.
Two other suitors are also said to be in the frame.
One report last week said that press holdings, publisher of other British titles including the Scotsman and Sunday Business and owned by another set of brothers, British-born David and Frederick Barclay, had offered 75-100 million pounds for the mass-market tabloids Daily Express, Sunday Express and Daily Star.
And on Sunday a report in the Sunday Telegraph said that David Montgomery, former chief executive of British newspaper operator Mirror group, was planning a 90 million pound offer with the backing of investment specialists 3I group.
The Hinduja group, whose business interests span banking, oil infrastructure, chemicals and media communications, said in a statement on Sunday that Express newspapers would complement its Indian cable network, in Time News and its in global Internet business.
Indian police said that last week that three of the four brothers Srichand, Gopichand and Prakash, had been charged in connection with a 14-year old deal to purchase weapons made by Sweden's Bofors group.
The Hindujas deny any involvement, and point out that no formal charges or legal proceedings have been laid ahead of a judicial hearing on November 20.
Srichand and Gopichand are British citizens. Prakash is Swiss and the fourth brother, Ashok, is Indian. The Sunday Times rich list last week estimated the worth of Srichand and Gopichand Hinduja at 1.3 billion pounds and placed them as the eight richest people in Britain.
Bureau Report
One report last week said that press holdings, publisher of other British titles including the Scotsman and Sunday Business and owned by another set of brothers, British-born David and Frederick Barclay, had offered 75-100 million pounds for the mass-market tabloids Daily Express, Sunday Express and Daily Star.
And on Sunday a report in the Sunday Telegraph said that David Montgomery, former chief executive of British newspaper operator Mirror group, was planning a 90 million pound offer with the backing of investment specialists 3I group.
The Hinduja group, whose business interests span banking, oil infrastructure, chemicals and media communications, said in a statement on Sunday that Express newspapers would complement its Indian cable network, in Time News and its in global Internet business.
Indian police said that last week that three of the four brothers Srichand, Gopichand and Prakash, had been charged in connection with a 14-year old deal to purchase weapons made by Sweden's Bofors group.
The Hindujas deny any involvement, and point out that no formal charges or legal proceedings have been laid ahead of a judicial hearing on November 20.
Srichand and Gopichand are British citizens. Prakash is Swiss and the fourth brother, Ashok, is Indian. The Sunday Times rich list last week estimated the worth of Srichand and Gopichand Hinduja at 1.3 billion pounds and placed them as the eight richest people in Britain.
Bureau Report