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Axel Springer poised to buy FT - Spiegel online

Reuters - UK Focus

FRANKFURT, July 23 (Reuters) - German publisher Axel Springer is poised to buy the Financial Times from Pearson (Xetra: 858266 - news) , Spiegel online reported on Thursday, citing sources close to Springer.

It said negotiations were well advanced and the result could become clear in the next hours, adding that three bidders had still been in the process as recently as yesterday.

Reuters reported earlier that Pearson, which has owned the business newspaper for nearly 60 years, had decided to sell the FT to a "global, digital news company". (Reporting by Georgina Prodhan; Editing by Arno Schuetze)