Business Services Industry
Britain's Department of Trade, Industry rules out bar on Barclays.
Knight Ridder/Tribune Business News, August, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Aug. 18--The Barclay brothers have cleared a hurdle for their acquisition of the Telegraph.
The Department of Trade and Industry has ruled that there are no "public interest" reasons why the UKpound 665m newspaper deal should be stopped.
Latest accounts show the Telegraph Group made a UKpound 109.7m pretax loss in 2003, down from a UKpound 39.7m profit.
Operating profit was flat, but the group had a UKpound 144m writedown. This related to its investment in Deedtask, which had acquired an interest in LHAT, a Hollinger International subsidiary that did not pay dividends as expected.
The Barclays need to wait a few weeks to see whether the Office of Fair Trading has...
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