On Air Now

Listen

Listen Live Now » 98.5 FM Battle Creek, Michigan

Weather

Current Conditions(Battle Creek,MI 49017)

More Weather »
76° Feels Like: 76°
Wind: WSW 14 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Showers Early 52°

Tomorrow

PM Thunderstorms 79°

Thurs Night

Isolated Thunderstorms 60°

Alerts

Deutsche Telekom to pick Scout24 buyer from four bidders: magazine

The logo of Deutsche Telekom AG is pictured at their headquarters, in this file photo taken in Bonn December 5, 2012. REUTERS/Ina Fassbender
The logo of Deutsche Telekom AG is pictured at their headquarters, in this file photo taken in Bonn December 5, 2012. REUTERS/Ina Fassbender

BERLIN (Reuters) - German phone company Deutsche Telekom will pick a buyer for its online classified advertising business Scout24 from four private equity firms, Focus magazine reported on Saturday.

Bidders Apax, Silver Lake, Hellman & Friedman and TPG Capital must submit final bids by the end of October, the weekly magazine said, without citing a source.

The price range for Scout24 continues to be 1.5-2.0 billion euros ($2.03-2.70 billion), according to Focus.

A spokesman for Bonn-based Deutsche Telekom didn't immediately return a call seeking comment.

German publisher Axel Springer has dropped out of the race but was still hoping to get the nod, the magazine said, citing unnamed sources in the industry.

($1 = 0.7402 euros)

(Reporting by Andreas Cremer; editing by Ron Askew)

Comments