Barclays buy a stake in Maybourne

The billionaire Barclay brothers, who own the Daily Telegraph and the Ritz hotel, have bought 24.8 per cent of Maybourne Hotel Group, which owns the Berkeley, Connaught and Claridge's hotels in London.

Maybourne is owned by Irish investors including Derek Quinlan, and was recently granted a two-year extension on £660m of debt owed to Ireland's National Asset Management Agency.