Deutsche Bank is understood to be advising Axel Springer, Europe's largest newspaper group, on a potential bid for the assets of Hollinger International, publisher of the Telegraph titles in the UK, the Chicago Sun-Times and the Jerusalem Post.

Senior banking sources in Frankfurt said Axel Springer may launch a bid with Haim Saban, the US entrepreneur who bought ProSiebenSat.1, the TV assets of KirchMedia, the insolvent German media empire, last year