Ex-KGB agent to own a major British newspaper

A Russian billionaire and former KGB agent is set to buy a major British newspaper, in the first instance of a former member of a foreign intelligence service owning a UK title.

Former KGB agent Alexander Lebedev will own the ailing Evening Standard after buying a major stake in the British newspapero on Friday.

Under the terms of the deal, Lebedev will purchase 76 per cent of the newspaper and the Associated Newspapers group will retain remaining 24 per cent.

His son Evgeny, who lives in London, is due to sign the deal on Friday.

The deal was finalised after a year of secret negotiations with Lord Rothermere, the owner of the newspaper and the chairman of the Daily Mail & General Trust.

Speaking to Guardian Lebedev praised the paper and said he used to read the Evening Standard and other British newspapers and other British newspapers when he was posted at the Soviet embassy in London in the late 1980s.

The Standard was "a very good newspaper" with some "brilliant journalists," Lebedev said adding that the Daily Mail was a "highly influential" title that closely reflected British public attitudes.

"I had to read every newspaper. I was there for that. I had to read the FT, the Guardian, Standard and the Daily Mail," he added.

He said he has no intention of interfering in British politics if he becomes the Standard's new owner and promised an "absolutely" hands-off approach in deciding paper's editorial line.

"My influence would be next to zero," he added.