Record estimate for disputed Picasso painting

A painting owned by Andrew Lloyd Webber's Art Foundation, which was at the centre of a dispute about its Nazi-era history, is to go under the hammer.

Portrait of Angel Fernandez de Soto is being offered with a pre-sale estimate of between £30m-£40m - the highest for any work of art ever offered in Europe.

It was expected to fetch up to $60m (£37.6m) at auction in 2006, but the sale was blocked at the last minute.

The dispute surrounding the 1903 work was resolved in January.

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