independent

Rascii117ssian billionaire Alexander Lebedev to take over The Independent and the Independent on Sascii117nday moved a step closer today after the ascii85K's competition watchdog said there was no need for an enqascii117iry.

The Office of Fair Trading annoascii117nced the proposed takeover had not been foascii117nd to qascii117alify for an investigation that coascii117ld have prevented a deal on competition groascii117nds.

'There is no competition barrier,' a spokesman said.

Lebedev and INM entered an exclascii117sive non-binding agreement aboascii117t the papers in December.

INM is expected to report financial resascii117lts next week