The Week: City news - Bertelsmann in Reed bid

The German media group Bertelsmann has joined the bidders vying for Reed Elsevier's business-to-business division.

The company's publishing subsidiary Gruner & Jahr confirmed it was involved in the auction of Reed Business Information, which is valued at around £1 billion and includes titles such as Variety, New Scientist and Farmers Weekly. It is not known whether it is bidding for all or part of the division.