Tue, 17 July, 2018


Mirror/Express merger – AMP writes to Trustee

Posted: October 13th, 2017

AMP members have been following with interest, and probably some alarm, news coverage of Trinity Mirror’s proposed takeover of Northern & Shell. (Northern & Shell is currently owned by Richard Desmond and publishes the Daily and Sunday Express, the Daily Star and Star on Sunday, as well as magazines including OK!)

Various pension-fund implications of the proposed takeover have been highlighted in the media, and now AMP secretary Gerald Mowbray has written to the independent chairman of the MGN Pensions trustee board, Joanna Matthews, to find out where the board stands and what safeguards it has secured, or is seeking, to protect our members’ future pensions.

There is a busy agenda for the Association’s AGM in London on October 16 (details elsewhere on this website), which will be attended by Joanna Matthews, as well as Trinity Mirror’s group finance director Vijay Vaghela, TM’s deputy finance director Philip Brown, and group pensions manager David Astley. No doubt the consequences of the takeover will be discussed.

You can link to news stories about the takeover below:

http:/www.pressgazette.co.uk

http://www.telegraph.co.uk/business/2017/10/07/pension-trustees-prove-roadblock-130m-merger-trinity-mirror/

 

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