British telecoms firm Energis said today it would not rule out selling the entire business.
"We are actively searching for potential purchasers of our European opearations but we would not rule out the sale of the whole business," said an Energis spokesman.
When asked whether the group had received a takeover approach from private equity firm Apax Partners since former Energis chief executive Mr Michael Grabiner joined two weeks ago, he said: "I can't make any comment about speculation".
Mr Grabiner could not be reached at Apax.
The Sunday Telegraphnewspaper reported, without citing sources, Grabiner has approached Energis's advisers and told them Apax is interested in making a bid for the business.
Goldman Sachs and Dresdner Kleinwort Wasserstein act as investment banks to Energis.
The newspaper said any offer would involve a nominal bid likely to be less than 5 pence sterling a share and an offer to buy up Energis' bonds at a deep discount.