Barclay family expected to regain control of Telegraph temporarily

Debt repayment will put group step closer to being controlled by consortium backed by UAE

The Barclay family is expected to close a deal on Friday to regain control of the Telegraph and Spectator temporarily, as part of plans that would ultimately put the titles under the control of a consortium backed by the United Arab Emirates.

The Barclays have engineered a two-stage deal to control the future ownership of the titles, which were seized by Lloyds bank in June after the family failed to repay 1.16bn in debts.