Independent MD says title is not up for sale

Alexander Lebedev is not close to buying the The Independent and Independent on Sunday because the titles are not on the market, according to managing director Simon Kelner.

In contrast to Lebedev’s claims that he discussed a possible deal with INM’s chief executive Gavin O’Reilly last week (see

Lebedev hints at Indy purchase

Lebedev hints at Indy purchase

Lebedev hints at Indy purchase

Lebedev hints at Indy purchase

Lebedev hints at Indy purchase

Lebedev hints at Indy purchase INM to secure third standstill deal).

The group also announced the sale of its 18% stake in gambling group Cashcade for £13.2 million to digital group PartyGaming (see INM offloads Cashcade asset).