Politics
Boris Johnson to become editor of the Daily Telegraph?
Boris Johnson, the former Prime Minister, was approached about a possible Nadhim Zahawi's role as editor of the Daily Telegraph was taken over by him, having appointed him chancellor of the exchequer before resigning from the post. The move could reunite Mr Johnson with one of his former Cabinet colleagues.
Sources close to Mr Johnson have confirmed that there have been preliminary and informal discussions about the possibility of him joining the right-wing newspaper's editor. However, it is stressed that no agreement has been reached and no formal negotiations are underway. A source close to the former prime minister said that while the idea was “floating”, no concrete plans had been drawn up.
Johnson previously worked as the Telegraph's Brussels correspondent and was more recently a well-paid columnist. According to a source close to him, he still holds the newspaper in high esteem.
Why people want to attract Boris Johnson
Sky News reported last month that Nadhim Zahawi had approached several billionaires to make offers for The Daily Telegraph and The Spectator, both currently on the market following a blocked takeover by the state of Abu Dhabi.
Zahawi is said to be negotiating directly with Gulf-based IMI, which owns the majority of RedBird IMI, the company that oversees the formal auction process.
Boris Johnson's possible involvement in the Telegraph's future comes as RedBird IMI reduces the number of parties taking part in the auction process.
Telegraph's uncertainty about the future
The Telegraph's fate has been uncertain for more than a year after Lloyds Banking Group took control of its parent companies, a result of the Barclay family's failure to meet its repayment obligations.
Despite this uncertainty, sources close to the process stress that there is still strong interest in publishing at prices significantly higher than those previously offered.
Key points
Former prime minister Boris Johnson has been approached about a possible role as editor of the Daily Telegraph.
Nadhim Zahawi, the former Chancellor of the Exchequer, is believed to be behind the rapprochement.
No agreement has yet been reached and no formal negotiations are underway.
Johnson previously worked at the Telegraph.
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