The move follows the announcement last week that Groupe Bruxelles Lambert (GBL) was considering selling its 25.1% stake in the group, which includes Arvato and Gruner+Jahr (which along with Axel Springer own European gravure powerhouse Prinovis).

"In short, we are prepared for an IPO," said Bertelsmann chairman and chief executive Gunter Thielen. "Our divisions hold leading positions in their markets."

The possible IPO of 25.1% of the 11.6bn (17bn) turnover media giant, according to reports, is not welcomed by majority shareholders the Mohn family and its foundation. If GBL does decide to sell, the family, which owns the remaining 74.9% share capital, have first refusal on the stake, valued at around 3.4bn.

According to a report in the Financial Times, the family would struggle to finance such a deal without overburdening the firm, unless it considered selling a "key asset".

Companies owned by Bertelsmann, the world's fifth largest media group, include TV and radio group RTL, publisher Random House, printer and publisher Gruner+Jahr, music group BMG, entertainment retailer Direct and media services operation Arvato.

Divisions/revenue
- Arvato: 21.6%

- BMG: 14.2%

- Direct: 12.5%

- Gruner+Jahr: n13.6%

- Random House: 10.2%

- RTL: 27.8%

Source: Financial Times