Independent News & Media is reported to have made a £40 million bid for Trinity Mirror’s Irish titles but the offer does not include the Belfast News Letter.
The publishing group, headed by Tony O’Reilly, already owns the Belfast Telegraph and had been seen a strong contender for the newspapers, which were put up for sale in July.
O’Reilly has received financial backing from private equity firm Provident Capital but will not be bidding for the Belfast News Letter as it is likely that the Competition Commission would block such a deal.
Trinity is believed to favour a sale that includes all nine of its Irish titles and may choose to rebuff the INM offer.
The deadline for bids is today and other interested parties are thought to be Scottish Radio Holdings, Ulster Unionist MP David Burnside and a consortium led by former Financial Times chief executive David Palmer.
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