The Telegraaf Media Group on Friday denied a report in the Financieele Dagblad that it was planning to mount a hostile bid for the PCM group.

PCM publishes the Volkskrant, NRC and Trouw newspapers and holds a majority stake in the AD.
‘TMG reaffirms its interest in a takeover of one or more titles from PCM but denies it has made a (hostile) bid for PCM,’ the company said in a statement.
PCM, which wants a partner to reduce its debt, has already rejected overtures from the Telegraaf.
The FD says the Telegraaf and Weekbladpers are planning a bid of €120m for PCM, and that they are backed by the Rabobank, which is of PCM’s biggest creditors.