The British government will make a statement "within days" over the bid by property developers Legacy to buy the Millennium Dome. Irish-based Treasury Holdings hold a substantial stake in the company.
Talks with Legacy, which wants to turn the ill-fated Dome into a hi-tech business park, had been due to be resolved today but concerns over the consortium's financial arrangements have led to the talks dragging on.
A property consortium including the company run by the Duke of Westminster, one of Britain's richest men, said on Monday it had decided against joining Legacy's bid.
The company later named private property company Teesland Group as its new bidding partner, hoping the additional backing would clinch its £150m proposed deal.
A spokesman for British prime minister Mr Tony Blair said today the government was still considering Legacy's bid for the Dome on a exclusive basis, indicating a response could be expected in a matter of days.
Mr Tim Fallon, spokesman for Legacy, said today: "We have submitted all our information to the government and fully expect the deal to be concluded as soon as is feasible."
But the Dome's former chief executive, Mr Pierre-Yves Gerbeau, has asked for the bidding process to be re-opened, describing the British government’s handling of the sale as "incompetent".
"This is the government's last chance to avoid making a cheap and fast deal it will regret in six months," Mr Gerbeau told BBC Radio.
With a general election expected in May, political observers say Mr Blair's government is anxious to complete the sale quickly.
Reuters