Time running out for London Dome sale

Time is running out for property developers Legacy to prove to the British government it merits control of London's Millennium…

Time is running out for property developers Legacy to prove to the British government it merits control of London's Millennium Dome.

Britain's weekend press was littered with rumours of last-ditch attempts by Legacy to attract the financial backing it needs to transform the much-maligned Dome into a technology business park.

According to a British government source, ministers were due to meet on Thursday to rule on the Legacy bid.

A British government spokeswoman said the situation was unchanged from last week.

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"Legacy are still the preferred bidder and we are working towards the mid-February date set by Mr Chris Smith(Britain's culture minister), she said.

As the preferred bidder, Legacy was originally due to conclude a £125 million sterling (euro 184 million) deal to buy the redundant Dome on Wednesday, though the deadline could well prove flexible.

A four-day auction of the Dome's contents has been planned for February 28th, aiming to sell everything from light fittings to sculpted body parts.

But if the Legacy bid runs aground, there may have to be a rethink. Alternative suggestions for the Dome include maintaining the site as a huge leisure complex, keeping many of the current attractions in place.

Reuters