Barclay family looks to secure buyer for Yodel - report

(Sharecast News) - The Barclay family has ramped up efforts to find a buyer for Yodel, the delivery business, it was reported on Wednesday. According to Sky News, advisors to the family are in talks with a number of trade bidders and potential financial buyers, including privately owned rival The Delivery Group.

The Barclay family, which declined to comment on the report, is currently overhauling its business interests.

The Telegraph newspapers and The Spectator political magazine were put up for sale after Lloyds Banking Group seized control of the assets last year. The Barclays have owned the titles since 2004, but Lloyds took control in a long-running dispute over unpaid debts of more than £1bn.

An auction was launched, with a number of rival media groups known to be interested. But it was halted in December after the Barclays struck a deal with Abu Dhabi-backed RedBird IMI, which saw it repay the loan.

The government is now reviewing the potential acquisition of the titles by the private equity firm.

It is not clear how important Yodel, part of the Barclays-owned Logistics Group Holdings and one of the UK's biggest parcel couriers, is to the deal.

The Barclays also own online retailer Very Group.