Submissions of bids for the hotel, luxury goods and Champagne group Taittinger are thought to close today.

A report in the French newspaper Le Figaro said on Friday (15 July) that investment firms Eurazeo and Wendel Investissement of France and Carlyle of the US lead the race to acquire the business.

However, it is thought both bidders are more interested in acquiring the hotel division than either its Champagne or luxury hotel businesses.

Le Figaro reported that as a consequence both were in talks to divest the unwanted assets to other interested parties.

Taittinger has retained two banks, Rothschild and BNP Paribas, to entertain offers and to ensure that the rights of large and small shareholders are respected.