Guardian Media Group and Apax Partners have begun discussions with banks about the future of Trader Media Group (TMG), owner of Auto Trader, the Guardian reports.
A trade sale or a flotation of TMG, which could value the owner of Auto Trader at up to £2bn, are the likeliest options. But a debt-funded dividend payment to the two shareholders is also a possibility, as is bringing in another investor to buy a minority stake of between 20 per cent and 40 per cent.
According to the report, it could be until late 2011 or early 2012 before a deal on TMG is done.