Alexander Lebedev eyes up the Standard

While the Russian billionaires do not have quite the same swagger – or cash – they once had, it hasn't stopped one of their number, Alexander Lebedev (pictured), from making an approach to buy the London Evening Standard, according to a report in the Guardian.

The paper claims that Lebedev, a former KGB officer who is also the business partner of the former Soviet President Mikhail Gorbachev, made an approach to the Standard's owners, the Daily Mail and General Trust (DMGT), late last year. Lebedev, who is part-owner of the Russian newspaper Novaya Gazeta, is understood to have used his 28-year-old son, Evgeny, who is based in London, for the negotiations. But while some senior figures at DMGT wanted to sell, chairman Lord Rothermere is said to have vetoed the deal.

Lebedev senior, who, as reported here, has launched a political party with his friend Gorbachev, made his billions from banking and, according to US publication Forbes, is among the 400 richest people in the world.

Evgeny Lebedev, who has been linked with actress Joely Richardson, is thought to be keen to build a media empire of his own, and has reportedly entered into partnership with the owners of the style magazine Dazed & Confused to produce a Russian edition. A deal with Lebedev might have saved the Standard from becoming a freesheet, which many believe is its fate given the recent downturn in advertising and circulation.