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 (London, UK), Silver Lake (Menlo Park, CA, USA), Hellman & Friedman (San Francisco, CA, USA) and TPG Capital (Fort Worth, TX, USA) 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 (Bonn, Germany) didn't immediately return a call seeking comment.
German publisher Axel Springer (Berlin, Germany) 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)