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Westferry plant remains jointly owned.(Brief Article)
Richard Desmond, the owner of Express Newspapers, has decided not to buy Telegraph Group's stake in the Westferry print plant. The decision coincides with accusations against the former Telegraph chairman Lord Black that he embezzled company funds for personal expenses.
Westferry, Europe's largest printing plant, will remain a joint venture between Telegraph Group and Express Newspapers.
Desmond, the chairman of Express Newspapers and the chairman of Westferry, had an option to buy Telegraph Group's stake in the business after its sale to the Barclay brothers. However, he has decided not to trigger a buyout of the Telegraph's share after a meeting with Sir Frederick Barclay last week.
Desmond had fallen out with Telegraph management when, at a Westferry finance meeting, he goose-stepped ...
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