The owner of the Daily Mail is in talks to buy the Daily Telegraph and its Sunday sister title for £500m, a deal that would finally end the more-than two-year hiatus over their future.

DMGT confirmed on Saturday morning Sky News’s revelation on the social media platform X that it had entered exclusive negotiations to buy the broadsheet titles, less than two weeks after their sale to a consortium led by RedBird Capital Partners collapsed.

In a statement, DMGT said the exclusivity period to combine the two national newspaper groups would be used to “finalise the terms of the transaction and to prepare the necessary regulatory submissions”.

A deal to combine the Mail and Telegraph titles will require scrutiny from the competition regulator, with the culture secretary, Lisa Nandy, also expected to be involved in the process.

The collapse of the RedBird-led deal came after opposition from within the Telegraph’s newsroom over reported links of its chairman, John Thornton, to influential Chinese state actors.

Lord Rothermere, DMGT’s controlling shareholder, had intended to acquire a minority stake of just under 10% in the Telegraph titles as part of the RedBird-led consortium.

An earlier deal proposed by a consortium including RedBird and the Abu Dhabi state-owned investment firm IMI collapsed after the government changed the law regarding foreign state ownership of national newspapers.

IMI was to have owned a 15% stake – the maximum permitted – under the more recent deal.

“I have long admired the Daily Telegraph,” Lord Rothermere said.

“My family and I have an enduring love of newspapers and for the journalists who make them.

“The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper, and I have grown up respecting it.

“It has a remarkable history and has played a vital role in shaping Britain’s national debate over many decades.

“Chris Evans is an excellent editor, and we intend to give him the resources to invest in the newsroom.

“Under our ownership, the Daily Telegraph will become a global brand, just as the Daily Mail has.”

A spokesman for RedBird IMI said: “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the Secretary of State.”

If the deal is completed, it would bring the Telegraph newspapers under the same stable of ownership as titles including Metro, The i Paper and New Scientist.

DMGT said it planned “to invest substantially in TMG [Telegraph Media Group] with the aim of accelerating its international expansion.

“It will focus particularly on the USA, where the Daily Mail is already successful, with established editorial and commercial operations.”

The Donald Trump peace plan is nothing of the sort. It takes Russian demands and presents them as peace proposals, in what is effectively for Ukraine a surrender ultimatum.

If accepted, it would reward armed aggression. The principle, sacrosanct since the Second World War, for obvious and very good reasons, that even de facto borders cannot be changed by force, will have been trampled on at the behest of the leader of the free world.

The Kremlin will have imposed terms via negotiators on a country it has violated, and whose people its troops have butchered, massacred and raped. It is without doubt the biggest crisis in Trans-Atlantic relations since the war began, if not since the inception of NATO.

The question now is: are Europe’s leaders up to meeting the daunting challenges that will follow. On past form, we cannot be sure.

The plan proposes the following:

• Land seized by Vladimir Putin’s unwarranted and unprovoked invasion would be ceded by Kyiv.

• Territory his forces have fought but failed to take with colossal loss of life will be thrown into the bargain for good measure.

• Ukraine will be barred from NATO, from having long-range weapons, from hosting foreign troops, from allowing foreign diplomatic planes to land, and its military neutered, reduced in size by more than half.

And most worryingly for Western leaders, the plan proposes NATO and Russia negotiate with America acting as mediator.

Lest we forget, America is meant to be the strongest partner in NATO, not an outside arbitrator. In one clause, Mr Trump’s lack of commitment to the Western alliance is laid bare in chilling clarity.

And even for all that, the plan will not bring peace. Mr Putin has made it abundantly clear he wants all of Ukraine.

He has a proven track record of retiring, rallying his forces, then returning for more. Reward a bully as they say, and he will only come back for more. Why wouldn’t he, if he is handed the fortress cities of Donetsk and a clear run over open tank country to Kyiv in a few years?

Since the beginning of Trump’s presidency, Europe has tried to keep the maverick president onside when his true sympathies have repeatedly reverted to Moscow.

It has been a demeaning and sycophantic spectacle, NATO’s secretary general stooping even to calling the US president ‘Daddy’. And it hasn’t worked. It may have made matters worse.

The parade of world leaders trooping through Sharm el-Sheikh, Egypt, lavishing praise on his Gaza ceasefire plan, only encouraged him to believe he is capable of solving the world’s most complex conflicts with the minimum of effort.

The Gaza plan is mired in deepening difficulty, and it never came near addressing the underlying causes of the war.

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Most importantly, principles the West has held inviolable for eight decades cannot be torn up for the sake of a quick and uncertain peace.

With a partner as unreliable, the challenge to Europe cannot be clearer.

In the words of one former Baltic foreign minister: “There is a glaringly obvious message for Europe in the 28-point plan: This is the end of the end.

“We have been told repeatedly and unambiguously that Ukraine’s security, and therefore Europe’s security, will be Europe’s responsibility. And now it is. Entirely.”

If Europe does not step up to the plate and guarantee Ukraine’s security in the face of this American betrayal, we could all pay the consequences.

“Terrible”, “weird”, “peculiar” and “baffling” – some of the adjectives being levelled by observers at the Donald Trump administration’s peace plan for Ukraine.

The 28-point proposal was cooked up between Trump negotiator Steve Witkoff and Kremlin official Kirill Dmitriev without European and Ukrainian involvement.

It effectively dresses up Russian demands as a peace proposal. Demands first made by Russia at the high watermark of its invasion in 2022, before defeats forced it to retreat from much of Ukraine.

Ukraine war latest: Kyiv receives US peace plan

Its proposals are non-starters for Ukrainians.

It would hand over the rest of Donbas, territory they have spent almost four years and lost tens of thousands of men defending.

Analysts estimate at the current rate of advance, it would take Russia four more years to take the land it is proposing simply to give them instead.

It proposes more than halving the size of the Ukrainian military and depriving them of some of their most effective long-range weapons.

And it would bar any foreign forces acting as peacekeepers in Ukraine after any peace deal is done.

The plan comes at an excruciating time for the Ukrainians.

They are being pounded with devastating drone attacks, killing dozens in the last few nights alone.

They are on the verge of losing a key stronghold city, Pokrovsk.

And Volodymyr Zelenskyy is embroiled in the gravest political crisis since the war began, with key officials facing damaging corruption allegations.

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The suspicion is Mr Witkoff and Mr Dmitriev conspired together to choose this moment to put even more pressure on the Ukrainian president.

Perversely, though, it may help him.

There has been universal condemnation and outrage in Kyiv at the Witkoff-Dmitriev plan. Rivals have little choice but to rally around the wartime Ukrainian leader as he faces such unreasonable demands.

The genesis of this plan is unclear.

Was it born from Donald Trump’s overinflated belief in his peacemaking abilities? His overrated Gaza ceasefire plan attracted lavish praise from world leaders, but now seems mired in deepening difficulty.

The fear is Mr Trump’s team are finding ways to allow him to walk away from this conflict altogether, blaming Ukrainian intransigence for the failure of his diplomacy.

Mr Trump has already ended financial support for Ukraine, acting as an arms dealer instead, selling weapons to Europe to pass on to the invaded democracy.

If he were to take away military intelligence support too, Ukraine would be blind to the kind of attacks that in recent days have killed scores of civilians.

Europe and Ukraine cannot reject the plan entirely and risk alienating Mr Trump.

They will play for time and hope against all the evidence he can still be persuaded to desert the Kremlin and put pressure on Vladimir Putin to end the war, rather than force Ukraine to surrender instead.