Mondadori rumoured as bidder for Emap's consumer arm

According to reports, the Italian group, which is controlled by former Prime Minister Silvio Berlusconi, has requested a sales memorandum on the troubled British publisher.

Mondadori's relationship with the UK publisher is not new: Emap produces fashion title Grazia under licence from the Italian firm, and Mondadori bought out Emap's French business for £370m (€545m) last year.

Emap is inviting separate bids for its three main divisions, with the £1.3bn business-to-business unit and its radio arm widely regarded as more favourable acquisition targets.

The consumer division has been touted as the hardest operation to offload, though recent speculation pointed to Guardian Media Group and private equity firm Apax Partners as preparing a joint bid.

According to today's press, Mondadori denied the report, which appeared in The Times. Emap would not comment.