BERLIN :  German phone company Deutsche Telekom will pick a buyer for its online classified advertising business Scout24 from four private equity firms, Focus magazine reported on Saturday. Bidders Apax, Silver Lake, Hellman & Friedman and TPG Capital must submit final bids by the end of October, the weekly magazine said, without citing a source. The price range for Scout24 continues to be 1.5-2.0 billion euros ($2.03-2.70 billion), according to Focus. A spokesman for Bonn-based Deutsche Telekom didn’t immediately return a call seeking comment.

German publisher Axel Springer has dropped out of the race but was still hoping to get the nod, the magazine said, citing unnamed sources in the industry.

($1 = 0.7402 euros)

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