In an interim management statement, the group said: "The process of divestment of Reed Business Information is at an advanced stage, although in the present economic and credit environment, a satisfactory outcome cannot be certain."
The Anglo-Dutch group added that it would be willing to provide financial support for a successful bid for the unit, which has fallen in value from an estimated value of £1.3bn when the sale was announced earlier this year, to between £650 and £850m.
It added: "As part of the process, a consortium of financing banks are in discussions with a small number of prospective buyers to provide financing."
According to reports, the three buyers left in the running are private equity company Bain Capital, an investment group led by TPG and DLJ Merchant Banking Partners, and a consortium of private equity firms including Apollo Management.
The group said that across the trade magazine unit that houses titles such as the New Scientist, performance had held up well, despite the difficult economic climate, with "strong growth in online information services more than compensating for declines in print".
It said its legal and scientific publications and exhibitions business were performing well, although the underlying growth across the legal markets was slowing.
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