Speculation is mounting that French newspaper Les Echos, sister paper of the Financial Times, could be put up for sale, La Libération reported on Saturday. Some French bankers expect Pearson, which owns both newspapers, to offer Les Echos to any one of a number of private equity groups.
By Monday in London the story had mutated into rumours that a deal could take the form of a management buy out. “All the private equity groups are ready to jump on this business,” La Libération reported one investor as saying.
Pearson on Friday evening declined to comment on the speculation.
La Libération quoted another source, “un proche du groupe”, as saying that the rumours are simply a test of Pearson’s determination to hold onto Les Echos.
The “cash machine” of the French press is an “enticing exception”, says the article. Les Echos is France’s only profitable mainstream daily.