Axel Springer, Europe’s largest publisher of newspapers and magazines, could invest more than €2bn as it seeks to expand internationally, increase its digital operations and exploit the market’s pessimism about print media.

Mathias Döpfner, chairman and chief executive, told the Financial Times the group could spend something close to the value of the aborted bid it made in 2005 for ProSiebenSat.1, Germany’s largest broadcaster, should “a unique opportunity” come along.