The takeover was very protracted but was reported as being on the verge of completed in the 22nd June issue of the Watford Observer. It appeared to be eventually confirmed on the 29th by the Evening Standard.
The following day the Independent reported Bassini said the deal was off
Michael Calvin writing in the Independent on Sunday the following day said he believed the deal would still go through.
This small article below taken from the Evening Standard on the 29th June finally confirmed the takeover had happened.
The Wikipedia article about Laurence Bassini gives more details of the takeover.