The Australian Macquarie Bank and French broadcaster Telediffusion de France (TDF) are the only remaining bidders for Deutsche Telekom's Media and Broadcasting unit, an AFP report, citing people familiar with the matter, said.
Deutsche Telekom disclosed in March that it planned to sell the unit, the AFP report said.
The report in Financial Times Deutschland said previous offers had come in significantly below the 1 billion euros ($1.41 billion ) price tag targeted by Deutsche Telekom.
To help lift the price, the German telecommunications giant might throw its radio tower unit, for which it initially also targeted a sales price of 1.0 billion euros, into the deal, the newspaper said.
The AFP report said Deutsche Telekom was considering swapping recently acquired real estate Internet portal Immobilienscout 24 with Macquarie to make the media and broadcasting unit more attractive.
FT Deutschland said Deutsche Telekom declined to comment, while spokesmen at Macquarie and TDF were not available, the report said.