Lehman Brothers is in the process of sole negotiations with IHG over a purchase of the company's UK hotels for as much as £1bn. It is expected that Lehman would allow Hilton to retain management of the hotels. Also for sale are 75 hotels that do not include the Hotel Intercontinental London, though other London sites are for sale. The UK sale process is part of a wider sale that will leave the company with just a half-dozen or so hotels in major cities.