08:17 AM EDT, 09/16/2024 (MT Newswires) -- (Updates to add Axel Springer's response in fifth paragraph)

KKR (KKR) and German billionaire Mathias Doepfner have reached a fundamental agreement to split up media giant Axel Springer, Reuters reported Sunday, citing an unnamed source familiar with the situation.

According to the source, the deal valuation is not yet final but could be around the 13.5 billion euros ($14.95 billion) reported by the Financial Times, Reuters said.

The parties are expected to discuss the proposed structure of the deal that would give KKR majority control of the company's classifieds business at a meeting next week, the source told the news outlet.

The announcement could also be made next week, although deal signing might take several months, Reuters said.

KKR did not immediately respond to MT Newswires' requests for comment, while Axel Springer declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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