Several newspapers speculated last week that billionaire and former lieutenant-colonel in the KGB Alexander Lebedev had made a bid for the publication that was promptly knocked back by its owner Daily Mail & General Trust (DMGT).
However, it has now been reported that the Russian's son Evgeby Lebedev has been involved in talks with DMGT.
It is uncertain what Lebedev's plans for the publication would be. The Evening Standard is reportedly doing better than most, although it still dropped from three to two editions last year.
DMGT launched the evening freesheet London Lite two years ago in response to News International launching thelondonpaper, which was designed to "kill off" the Evening Standard.
According to the Financial Times, Alexander Lebedev is the owner of a weekly news magazine called Korrespondent and part owner of the newspaper Novaya Gazeta.
DMGT was unavailable for comment.
Russian rumours continue to fly about Evening Standard bid
Speculation that London evening newspaper the Evening Standard could be about to fall into Russian hands is still rife.
