-- Lloyds Banking Group is set to start a 600 million pound ($745.4 million) auction for the Telegraph newspapers and The Spectator magazine, Sky News reports citing unnamed sources.

-- The British bank, which is being advised by Lazard, is planning to hire another large investment bank to launch a sale process within days, Sky News reports.

-- Lloyds doesn't plan to place Telegraph Media Group or its parent Press Acquisitions into administration, Sky News reports.

Full story: https://tinyurl.com/yc44wr9p

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

June 07, 2023 01:56 ET (05:56 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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