Telegraph owners’ sale to Constellation Hotels of 64% stake in Coroin marks end of attempt to seize control of Claridges, the Berkeley and the Connaught
The Barclay brothers have abandoned their four-year battle to seize control of three of London’s most prestigious five-star hotels, including Claridges, selling out to a business controlled by Qatari sovereign funds.
The sale of their 64% interest in the hotel company Coroin to Qatar’s Constellation Hotels for an undisclosed sum marks an end to one of the most expensive shareholder feuds in recent British corporate history, generating millions of pounds in bills for legal advice and corporate investigators.
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