National World plots takeover of Mirror and Express owner Reach

David Montgomery says the publisher is in the early stages of a potential offer

The owner of the Scotsman and Yorkshire Post has revealed it is plotting a surprise takeover of much larger rival Reach, the parent company of the Mirror and Express titles and hundreds of regional newspapers including the Manchester Evening News.

National World, which is listed on the London Stock Exchange and run by the former boss of the Mirror newspaper group David Montgomery, has said that it is in the early stages of a potential offer for Reach.