08 August 2007
GMG and Apax to bid for Emap?
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The publisher of the UK’s The Guardian newspaper is in talks with private equity firm Apax Partners about launching a joint GBP2 (EUR 2.9) billion bid for Emap, reports The Daily Telegraph. Talks between Apax and Guardian Media Group are at an early stage and no formal agreement has been struck to bid together. Apax and GMG already have a close relationship. Earlier this year the private equity firm paid GBP650 (EUR 956) million for a 49% stake in ICMA member Trader Media Group, the arm of GMG that includes the classified advertising magazine Auto Trader.
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