"what action the Tories would take"
Whatever action the Tories would take would, if Lord "Two Resignations" Mandelson of Ill Repute gets his own way, probably include Mandy in some Government role - back in September he told Murdoch's organ that he'd be extremely relaxed about serving under the Tories. New Labour? Blue Labour, more like.
"In an interview with The Sunday Times magazine, the business secretary said he would be willing to put his “experience at the disposal of the country”, if Labour lost power. “As I grow older, I can imagine more ways of serving my country than simply being a party politician,” he said.
Asked whether he might use his experience in business and world trade under a future government, he said: “If I was asked to do something for my country using that asset base, of course, I would consider it.”
On the specific point of whether he would consider requests from a Conservative government, he said: “Of course, it wouldn’t be serving the government, it would be serving the country and I wouldn’t be doing it by becoming a member of that government.”