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Louise Thomas
Editor
Former prime minister Boris Johnson is reportedly being courted for an executive role at The Daily Telegraph, meaning he could be reunited with former cabinet colleague Nadhim Zahawi if his bid to buy the newspaper is successful.
The former chancellor, who stepped down from his Stratford-on-Avon seat before the general election, is currently spearheading a bid to buy the Telegraph and The Spectator, both of which are up for sale after an Abu Dhabi-backed takeover was blocked.
Mr Johnson is said to have held informal talks with the former chancellor about a possible job at the paper, according to Sky News. A source close to the former prime minister told The Independent that “no formal or substantial discussions” have been had so far.
Sources with knowledge of the Telegraph’s bidding process said Mr Zahawi had raised the prospect of the former prime minister becoming the paper’s global editor-in-chief with possible investors.
The former prime minister currently has a weekly column in the Daily Mail and was previously in talks with GB News about joining the channel as a presenter.
A person close to Mr Johnson, who previously worked for the Telegraph as a correspondent and a columnist, said he “still holds the Telegraph in high affection”.
Mr Zahawi has approached a number of billionaires about backing an offer for the Telegraph and The Spectator, Sky News revealed last month.
While he has not yet submitted a formal offer, he is said to be “confident” in the prospect of securing the financing and submitting a competitive bid.
The two titles have been put up for sale by Abu Dhabi-backed fund RedBird IMI, which struck a deal with the Barclay family last year to take control of the group by paying off debts to their lender Lloyds.
But in March, the government said it would bring forward legislation that would block such state-backed takeover deals in the industry, causing RedBird IMI to immediately auction off the titles.
Lloyds Banking Group, the UK’s biggest high street lender, seized control of the Telegraph’s parent companies after the Barclay family – which had owned the title for nearly two decades – fell behind on debt repayments.
Barclays continue to control Very Group, the online retailer. Mr Zahawi was recently appointed as chair of the group.
The Independent has contacted Mr Zahawi’s office for comment.
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