Axel Springer, the German publisher which recently expressed an interest in buying the Mirror Group, has remained silent since its initial announcement a couple of weeks ago (see Mirror Group Awaits Springer Bid).
Mirror Group advisors are believed to be talking to the Takeover Panel in an attempt to prevent Springer from drawing out the process too long. Axel Springer will probably wish to wait while Mirror Group’s share price falls in order to propose a lower offer.
At 4:15pm today Mirror Group’s share price stood at 232.5p, down from 248p at the end of last week.
Mirror Group: 0171 293 3000
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