It is thought that this he will use this new company as a vehicle to purchase The Independent and The Independent on Sunday newspaper titles before the two parties' exclusivity agreement deadline passes tomorrow (26 February).

The new company was set up on 5 February this year, with Lebedev's son, Evgeny Lebedev, as director. He is also named as a director of ES London and Evening Standard – the vehicles used to buy the Evening Standard last year from Associated Newspapers.

Independent Print has been set up as a subsidiary of Ledebev Holdings, the master company that holds the Russians' 75% shareholding in the Evening Standard.

The choice of the new company's name, Independent Print, has led to speculation in the media industry over Lebedev's intentions for the company.

Guardian media expert Roy Greenslade has questioned the use of the word print in the title. He believes it could reference the current talks with Trinity Mirror over the print contract of the titles, which has been key to the ongoing negotiations.