Russian tycoon and Egyptian billionaire discuss Independent group takeover

Alexander Lebedev, the owner of the London Evening Standard, is reportedly in discussions with Egypt

Samih Sawiris, chairman and chief executive of Orascom Development Holding, is the son of Onsi Sawiris, who founded the Orascom group of companies in the 1950s.

Independent News and Media's (INM) pension deficit and printing deals appear to be obstacles for the sale of the newspaper group, negotiations for which are expected to conclude by 15 February.

Lebedev and Sawiris are also reportedly partners in a chateau development project in Switzerland.