B

Baroness Stowell of Beeston (Con)

Speaking in the House of Lords on 16 October 2025

Debate

Telegraph Media Group: Ownership

Contribution

My Lords, I am grateful for the Minister’s confirmation that the formal bid has been received and that during this phase of scrutiny the existing protections for the Telegraph remain in place. I very much hope that the Secretary of State will soon be able to say that she is minded to involve the CMA and Ofcom in the scrutiny of this bid. That will be important, should she decide to give it the go-ahead, for our future confidence in the Telegraph’s editorial independence. Meanwhile, can the Minister please confirm that the regulations to prevent multiple 15% equity stakes from state investment funds will be laid before the end of this month and applied to this case? Will she also make clear—and confirm, I hope—that the 15% is an absolute cap, and that any financial arrangements such as debt or earnout on top of a state investment fund’s proposed 15% stake would go against the intention of those regulations?

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