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Mills and McCartney close to a settlement

Mills and McCartney close to a settlement

Heather Mills is close to accepting a £29 million pay-off in her divorce from Paul McCartney, according to a report in a tabloid newspaper.

The former-glamour model had been suing Mr McCartney, whose personal fortune is estimated to stand at £800 million, for a £40 million settlement.

However, it seems that Ms Mills is now set to accept the reduced offer along with the couple's £4 million former home in St John's Wood, in north-west London.

It is understood that the quickie divorce will also see Ms Mills give up her claim for sole custody of their daughter Beatrice, but that she will not accede to a proposed gagging order that would prevent her from talking about their marriage to the press.

An insider commenting on the developments to the News of the World, said: "Being realistic it could still take weeks to finally thrash out a deal but they're on the right path and now they're talking the same language. And if negotiations keep going this well it could be even sooner."

The estranged couple had been married for four years, but announced they were to divorce in May.