Daily Mail Poised to Bid for Black's Telegraph Group

28 November 2003

Daily Mail & General Trust, one of the more serious suitors for the fair hand of the Telegraph Group -- the jewel in the crown of Lord Conrad Black's Hollinger International -- said Thursday it believes a bid would not be ruled out on competition grounds.

"If the Telegraph does come on the market, understandably we will have a look," said DMGT finance director Peter Williams. "We are in the national newspaper business and it would be really good."

He added: "It would give us a 26% market share, but News International is already at 32%. [Williams is at odds with the general belief that the share held by News International -- the UK unit of News Corporation -- exceeds 35%].

Williams also said that DMGT could finance the acquisition of Telegraph Group without selling non-core assets, such as its 29.9% holding in radio group GWR.

Data sourced from: Telegraph.co.uk; additional content by WARC staff