Black in battle to block Telegraph sale

EMBATTLED Press baron Conrad Black has launched a legal bid against Hollinger International to block the sale of the Telegraph newspaper titles to the Barclay Brothers.

Black, through Canadian holding company Hollinger Inc, has formally asked Delaware Chancery Court Judge Leo Strine to make the £660m sale of the Telegraph to the Barclay Brothers subject to shareholder approval, which would allow him to block the deal.

'We do not believe Hollinger International should be allowed to disenfranchise shareholders and deny them their fundamental legal rights,' officials of the company said in a statement.

The Barclay Brothers last week won a hotly contested auction to buy the titles from New York-listed offshoot Hollinger International.

Although dumped as Hollinger International's chief executive over disputed payments, Black, through Hollinger Inc, still has a 68% voting interest and 18.2% equity interest in Chicago-based Hollinger International.

He always threatened to challenge the deal although recent reports had suggested there was some rapprochement between Black and Hollinger International.

Hollinger Inc has said that the sale 'involves the bulk of the company's assets and therefore clearly requires the approval of the company's shareholders'.

Hollinger International says that no approval is needed.