Sir David and Sir Frederick Barclay have hired UBS to advise them on their £259m (€374m) bid to take control of Hollinger International.

In a statement, Press Holdings International Limited, the company created by the Brothers for the bid, said: "UBS Investment Bank has a long-standing relationship with Sir David and Sir Frederick Barclay. The UBS advisory team, which will operate out of Toronto, London and New York, will be led by Ken Costa, vice chairman of UBS Investment Bank."