Alexander Lebedev, new owner of London’s Evening Standard, is considering floating the paper on the stock market.

The Daily Telegraph reports that Lebedev – who, since last month, owns 75.1 per cent of the paper – is discussing an ‘initial public offering”, and that he has ‘no spare cash”.

The paper also reports he is close to forming an editorial advisory board, possibly including Mikhail Gorbachev – who this morning visited the Evening Standard’s headquarters – and JK Rowling.