Hollinger has announced that chief executive Lord Conrad Black will step down from his position this Friday, but will remain as non-executive chairman.

N&S and the Telegraph Group jointly own Docklands-based West Ferry Printers, but any change in the ownership of the Telegraph Group would automatically give N&S the option to buy the plant outright under an existing agreement.

If he solely owned West Ferry, Desmond would have to be consulted by any new prospective owner of the Telegraph about its printing.

The Telegraph Group tried to exercise its option to purchase West Ferry when N&S bought Express Newspapers from United News and Media in November 2000. But this led to lengthy, costly and acrimonious legal action between the partners concerning the value of the plant.

There is increasing speculation that Hollinger may be forced to sell some assets in order to meet a 41m payment next spring. Possible suitors include The Washington Post Company, the Daily Mail & General Trust and N&S.

A spokesman for N&S refused to comment on whether Desmond would make an offer for the Telegraph Group as it was not for sale at the moment.

We would hope that any prospective buyer of the Telegraph would have its printing obligations in place, said the spokesman.