Telegraph Media Group

Lord Forsyth of Drumlean Excerpts

Wednesday 19th November 2025 Lords Chamber

[Baroness Twycross (Lab)]

The parties have given public assurances that this is not how the deal has been structured, which the Secretary of State was pleased to see, and I hope gives reassurance to the noble Baroness. They stated:

“The structure of the transaction has always been that upon any sale, the security and guarantees granted by the Telegraph companies in respect of the Redbird IMI loan will be fully extinguished and discharged. Further, the Telegraph would not assume any debt owed by the Barclay family”.


On that basis, it is not my current understanding that the Telegraph would be responsible for the debt. I hope that gives the noble Baroness the reassurances she requires.

[Lord Forsyth of Drumlean (Con)]

My Lords, has this uncertainty for the staff and for a great national newspaper not gone on long enough? Should the Secretary of State not use her powers to get the Competition and Markets Authority to put this on a block so that there is a proper option and normal order can be restored?

[Baroness Twycross (Lab)]

It would be inappropriate for me to speculate on the potential approaches that might be taken at this stage, although I and the Secretary of State are keenly aware that the sale process has taken too long. We are clear about the negative impact of this uncertainty, not least on the Telegraph staff. For this reason, the Secretary of State will be moving this forward as a priority. However, the need for decisive action cannot overshadow the need for thorough and diligent consideration of the approach which will deliver the best outcome.