The Barclay Brothers are virtually certain to buy the UK newspaper assets of Hollinger International next week, despite being outbid by rivals, 3i and Veronis Suhler Stevenson, the private equity groups which formed a consortium to buy the titles.

One source close to the deal said that the 3i consortium had lodged a higher bid than the Barclays, but the ability of the brothers to do a deal quickly, coupled with their experience as the owners of two other newspapers, The Scotsman and The Business, had been decisive factors.