Guardian Media Group, the UK-listed newspaper group, is reportedly in talks with a three private equity groups over the sale of its Trader Media arm.

In response to the report, published in the Financial Times this morning, Guardian Media Group issued a statement confirming that it “has recently received further unsolicited approaches from a number of parties interested in acquiring a minority stake in Trader Media Group”, and that it had decided to invite “a small number of parties to clarify the precise nature, structure and value of their proposals.

Guardian Media Group did not identify any of the potential bidders, but the private equity groups concerned are thought to be Apax Partners, Candover and Blackstone. 

Originally formed as a publisher of automotive classified titles, Trader Media publishes over 70 titles in the UK and Europe, including Auto Trader, and a number of associated websites. 

For the year to April 2006, it recorded operating profits of £119.5m, and is valued at between £1.3bn and £1.5bn. Last year, Guardian Media Group chief executive Carolyn McCall was quoted as saying that although she viewed such an offer as unlikely, she would sell Trader Media “if someone came in and offered us £1.5bn”