German financial newsletter The Platow Brief said the deal could move forward in the next fortnight, however, previous reports have stated that the merger could only go ahead if both manufacturers sold assets in order to secure backing from European Union authorities.

Bloomberg previously claimed that the merger would require both press manufacturers to shed some assets where businesses overlap and, by doing so, this would help gain much-needed backing from the anti-trust authorities.

The latest round of speculation follows German trade media reports in Manager Magazin, which alledged that Heidelberg and Manroland had appointed Merrill Lynch and Deutsche Bank respectively to advise on the potential merger.

The title reinforced the latest claims reporting that the new company would need to dispose of the Manroland sheetfed manufacturing site in Offenbach, which currently employs 2,500 people.

Manroland and Heidelberg declined to comment.