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TELEGRAPH GROUP MULLS OFFER FOR EXPRESS

News, 23 October 2000


Hollinger Group, owner of the Daily Telegraph and Sunday Telegraph, is said to be considering throwing its hat in the ring in the contest for Express Newspapers [WAMN: 6&16-Oct-00].

Said a Telegraph spoke: "We are looking at Express Newspapers. But we’ve never overpaid for a newspaper, so it would depend on price."

Which is not quite the whole story, as Express Newspapers owns 50% of its West Ferry printing site. The other half is owned by Telegraph’s Group’s controlling shareholder- Conrad Black.

In addition to the possible Telegraph bid, two firm offers from billionaire siblings, each valued at up to £100 million, are already on the table: one from the controversial Hinduja brothers; the other from the reclusive Barclay twins.

News source: The Times (London)