Deutsche Telekom to pick Scout24 buyer from four bidders: magazine

Reuters
File photo of Deutsche Telekom AG logo at their headquarters in Bonn
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The logo of Deutsche Telekom AG is pictured at their headquarters, in this file photo taken in Bonn December 5, 2012. REUTERS/Ina Fassbender/Files

BERLIN (Reuters) - 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, Silver Lake, Hellman & Friedman and TPG Capital 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 didn't immediately return a call seeking comment.

German publisher Axel Springer 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)

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