Guardian in talks with PE firm Apax for £2bn Emap pitch

While no formal agreement has been made to bid together, Apax is apparently being advised on a possible offer for the group by Deutsche Bank.

The development follows the news that Emap is considering selling some of its constituent businesses.

It is believed the two prospective buyers are planning to draw up a list of potential buyers for Emap's consumer publishing business, which neither Apax nor GMG would likely want to retain.