The exclusive period for negotiations between Independent News and Media and Russian billionaire Alexander Lebedev for the Independent and the Independent on Sunday is due to end on Monday.
We understand that the deal will not be concluded by 15 February. Deadlines for INM deals have a habit of slipping, but that does not mean that a sale will not happen. Indeed, the indications are that a deal going through is still the most likely outcome.
MediaGuardian understands that INM is keen to conclude a deal by 24 March at the latest in order to appease shareholders (who were formerly bondholders). INM results are due on 24 March and a sale to the Russian, who bought the London Evening Standard last year, would please shareholders.
In November INM secured the backing of its shareholders to complete a restructuring plan. Bondholders were left with 46% of the company in a deal to repay €200m (£173m).
Those shareholders are keen to offload the loss-making London newspapers, which have significant ongoing associated costs.
