Four bidders are vying to buy Emap France from its UK parent. Three publishers and one investment fund are chasing the publisher, valued at EUR650 million.
Prisma Presse, the French arm of the German company Gruner & Jahr, Italy's Mondadori and Rizzoli Corriere della Sera have all made offers.
Carlyle Investment Funds is the only non-publishing business to stay in the race after Candover-Vestar Capital Partners, Eurazeo and PAI all pulled out.
In the year ending May 2006, Emap France reported revenues of EUR440 million.
In the past year, it spent EUR13 million on the launch of Closer and EUR8.4 million to relaunch Tele Poche.
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