Independent sale deadline extended

As anticipated, Independent News & Media announced today that it was extending its sale talks with Alexander Lebedev over the Independent and Independent on Sunday. The exclusive talks were due to expire today, but have been extended until Friday week, 26 February. INM said today that the extension had been granted to "facilitate bringing these discussions to a successful conclusion". As we wrote last week : 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).