Indians want quick Newcastle deal or will consider move for other clubs

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Ashley is believed to have held meetings with Anil Ambani, the head of Reliance Communications - India's biggest telecoms company - about investing in the club he paid £130m for 15 months ago.

RCom are ready to offer Ashley an escape route and a healthy profit, but they want quick answers and will consider other clubs if they do not get them.

Worried: Newcastle United manager Kevin Keegan has striker problems

The £300m fee suggested last month appears to have lowered significantly and RCom and a second bidder, Profitable Group -a Singapore-based global investment company - are prepared to pay about £275m.

The Indians are leading the race but would like discussions to advance within the next 10 days.

They will begin due diligence, a procedure Ashley failed to undertake during his own bid for control, if given the green light. Ambani's wealth dwarfs even Ashley's own billionaire status.

The 49-year-old is listed as the sixth richest man in the world with a personal wealth of about £21billion.

Newcastle officials last night again dismissed talk of a possible takeover as the club prepare for the biggest signing of Ashley's tenure. Protracted talks have almost concluded over the £10m capture of Argentina defender Fabricio Coloccini from Deportivo la Coruna.

The 26-year-old said: 'I don't fear the Premier League. I love it and I watch it a lot. I will be a big hit.' Of more concern to manager Kevin Keegan is his lack of forwards. Only Alan Smith is fit and he has not scored a Barclays Premier League goal since 2005.