Telegraph Media Group

Baroness Stowell of Beeston Excerpts

Wednesday 19th November 2025 Lords Chamber

[Baroness Twycross (Lab)]

The Secretary of State has adhered to the letter of the law and diligently carried out her quasi-judicial responsibilities. There is no basis to the suggestion that the decision should be made elsewhere. Securing a swift outcome in the public interest is a priority for her, and she will continue to act within the bounds of the regulatory framework as set out in the Enterprise Act 2002. Noble Lords wanted powerful legislation to prevent foreign states from owning a stake in our newspapers and rightly so. Now we must allow for resolution to be sought to secure stability for the Telegraph.

[Baroness Stowell of Beeston (Con)]

My Lords, it is 18 months since this House effectively forced RedBird IMI to sell the Telegraph. It is more than unacceptable that the Telegraph’s ownership remains unresolved. Can the Minister confirm that IMI, the Emirati fund, cannot transfer any debt on to the Telegraph that it incurred from paying an inflated £500 million for the business and that such a poison pill would breach all legal limits on foreign state investment funds as well as the law preventing foreign states from owning, controlling or influencing a British newspaper?

[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.

--- Later in debate ---

[Baroness Twycross (Lab)]

We would love to have a bit more balance in the written media. However, I am absolutely committed, as is the Secretary of State, to continuing to see the Telegraph remain as one of the key newspapers among a whole host of newspapers with centuries-old traditions.

[Baroness Stowell of Beeston (Con)]

My Lords, as no one else is seeking to ask a question, may I just return to this? The Minister seems to be suggesting in her answers that the Telegraph’s future remains in the destiny or hands of RedBird IMI, which has been found to be non-compliant with the law that Parliament has passed. Can I press the Minister again on the question that I asked? She suggested that they were not indicating that they would do something to transfer the debt, but surely the law prevents them from doing what has been reported and sounds so horrific in relation to this poison pill?

[Baroness Twycross (Lab)]

Unfortunately, I can only repeat the response that I gave previously. It is not my understanding that the Telegraph will be responsible for the debt. I will clarify to the noble Baroness in writing the extent to which that is because of the law or the extent to which it is because of the commitment, but we are absolutely clear that the Telegraph is not responsible for the debt.