LONDON (Brand Republic) – The Telegraph Group is considering exercising its right to buy the half share of the West Ferry printing plant bought by Richard Desmond as part of his takeover of Express Newspapers last week.
If the Telegraph decided to use its pre-emption rights over the east London plant, it would strip Desmond of one of the most lucrative parts of Express Newspapers. The plant has several large contracts and is understood to have made a significant contribution to profits last year.
Dan Coulson, deputy chairman of Hollinger, the Telegraph’s parent group, said a decision had not been made about the future of the plant, in which it already holds a 50% stake.
It sold the other half to the Express some years ago, but retained the right to buy it back in the event of a change of ownership.