The Barclay family aren’t going down without a fight. According to Mark Kleinman, they’ve tabled an offer to Lloyds to write off a portion of their colossal £1 billion debt and retain control of the Telegraph and Spectator’s holding companies. Apparently Lloyds aren’t having any of it, and are rejecting the bid…

A spokesperson for the family said talks “remain ongoing” and they “hope to come to an agreement that will satisfy all parties“. The Barclays’ holding companies are already in receivership and Lloyds are reportedly determined to sell them off for a hefty price tag of around £600 million, which seems ambitious to Guido. Even if they get that, they’d still be owed £400 million by the Barclay family…