Britain Drops Bid for Art Works Slated for Madrid Exhibit
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LONDON — Britain said on Friday it had dropped a bid to acquire one of the world’s greatest private art collections, belonging to Baron Hans Heinrich Thyssen-Bornemisza, after hearing that he had provisionally agreed to lend most of it to Spain for 10 years.
British Arts Minister Richard Luce told Parliament that the government had withdrawn its proposal to house the private collection, rated in the art world as second in importance only to that of Queen Elizabeth II.
“Baron Thyssen-Bornemisza has entered into preliminary accord with the Spanish government which is intended to lead to a loan of most of the collection for display in Madrid for a period of up to 10 years,” Luce said.
“In these circumstances, the government has withdrawn its proposal.”
Luce added that Britain might reconsider its position if the deal with Spain fell through.
The baron, a 67-year-old Swiss industrialist, has been seeking a permanent home to keep intact the bulk of his collection, estimated to be worth more than $1.4 billion. It consists of 572 Old Masters and about 900 modern paintings.
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