The Telegraph Group and Express Newspapers (EN) called an uneasy truce after last weeks ruling from the Court of Appeal, which forced them to share the same boardroom.

Northern & Shell (N&S) bought EN from United News & Media in November 2000. Under a pre-existing agreement Telegraph had the option to buy N&S 50% stake in West Ferry, but there was disagreement about this notice period, the suspension of ENs board representatives and how to establish the plants value.

The court ruled that Telegraph had until 3 January 2001 to buy out ENs share, 42 days after N&S bought EN. Telegraph had argued that the period started from when it served notice of its intention to buy on 27 December 2000.

But both sides were winners of sorts; the Court of Appeal said ENs directors should be reinstated onto the West Ferry board after their exclusion was considered unfair, but it also confirmed that Telegraph was not obligated to buy ENs share at the amount stipulated by arbitration. An earlier ruling had put the value of Docklands-based West Ferry nearer to ENs 60m-70m estimate, rather than Telegraphs 18.8m offer.

Telegraph chief executive Dan Colson said: "Im afraid we are back to square one, but we are delighted that the court upheld our main principle that it was an option, and not an obligation, to buy. We are co-shareholders in a plant and have to work together for both sides needs. I can hardly wait they are such wonderful people."

N&S chairman Richard Desmond and joint managing director Martin Ellice are considered certainties to be among ENs four West Ferry board members.

Story by John Davies