It is believed that the deal is all but secured, with the only sticking point the existing print contract that Independent News & Media (INM) has with Trinity Mirror.

INM is understood to want the sale to have been completed by the time it releases its results next Wednesday (24 March).

The OFT said that the acquisition did not constitute a relevant merger situation because the turnover of the two newspapers was less than £70m and the combined market share of the two papers, together with the Evening Standard, which Lebedev bought in early 2009, remains less then 25%.

Already the national media is speculating that Lebedev will turn the publications into free titles, as he did with the Evening Standard.