STOCKHOLM, May 3 (Reuters) - German media group Axel Springer is eyeing a potential bid for Swedish internet advertising company Tradedoubler, a Swedish newspaper reported on Monday, citing undisclosed sources.
The German media giant and its adviser JP Morgan had contacted several Tradedoubler owners in April to sound out interest in a bid, business daily Dagens Industri said.
The newspaper said the overtures had so far met with a cool response and gave no value for the potential deal, saying only it was likely to be 'far less' than the about 6 billion Swedish crowns ($825.6 million) offered by AOL in 2007.
The market value of Tradedoubler, which appointed Urban Gillstrom as new chief executive in February, currently stood at about 1.5 billion crowns, the newspaper added.
($1=7.267 Swedish Crown) Keywords: AXELSPRINGER TRADEDOUBLER/ (niklas.pollard@reuters.com; +46 8 700 1110, Reuters messaging: niklas.pollard.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The German media giant and its adviser JP Morgan had contacted several Tradedoubler owners in April to sound out interest in a bid, business daily Dagens Industri said.
The newspaper said the overtures had so far met with a cool response and gave no value for the potential deal, saying only it was likely to be 'far less' than the about 6 billion Swedish crowns ($825.6 million) offered by AOL in 2007.
The market value of Tradedoubler, which appointed Urban Gillstrom as new chief executive in February, currently stood at about 1.5 billion crowns, the newspaper added.
($1=7.267 Swedish Crown) Keywords: AXELSPRINGER TRADEDOUBLER/ (niklas.pollard@reuters.com; +46 8 700 1110, Reuters messaging: niklas.pollard.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.