The Libertines are on the brink of reuniting to record new material and tour, according to reports.

The group disbanded in 2004 because of singer Pete Doherty's problem with drink and drugs.

But Doherty and former bandmate Carl Barat, who were pictured together this week in London, are now believed to have settled their differences.

A source told The Sun newspaper: “Carl has always said he would not get back together just for the money.

Pete’s drug use and erratic behaviour tore the band apart and its demise left Carl heartbroken.

“He vowed not to return until his old best pal had sorted out his problems and, after having a lengthy heart-to-heart with him, he’s confident Pete has turned a corner.

“He is looking forward to working with him again.”

Doherty was quoted recently as saying the band had been offered “millions” to perform at the Reading and Leeds festivals this summer.

While Doherty is a member of Babyshambles, Barat is currently performing as a solo artist following the split of Dirty Pretty Things – the band he formed after the demise of The Libertines.

(by Jason Gregory)