Guardian and Apax begin talks over future of Auto Trader

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.

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