Mecom, in the past two years one of the biggest buyers of European newspapers, may become a seller after it was approached with an offer of about £375m ($745m) for its Edda Media business in Norway, it emerged on Thursday.

The group, headed by David Montgomery, sparked interest from trade buyers in Scandinavia after Edda’s management approached the Mecom board with plans for a flotation earlier this year, according to a person close to the management of the Oslo-based company.