Three separate private equity bidders are jockeying to become the sole candidate to win one of the biggest private equity deals in Europe, with confirmation of the winner expected as soon as today.

A consortium of Advent International and Bain Capital has been tipped to win out in the circa £2.5bn (€3bn) bidding for RBS Global Merchant Services, a payment division of the UK bank, according to three people familiar with the matter. The winning bidder, who will continue long-term negotiations with RBS, is expected to be announced as soon as today, the people said.