Private equity firm Apax is in talks with Guardian Media Group (GMG) about potentially buying the newspaper group’s stake in Trader Media Group, the publisher of Auto Trader, in a deal that could raise up to £600m. GMG owns 50.3pc of Trader Media Group and, under a shareholder agreement struck with Apax in 2007, each party has the right to buy out the other if they decide to sell their stake.
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