The Telegraaf Media Groep (TMG) is attempting to take over the NRC Handelsblad newspaper and has bid €90m for the company, the Financieele Dagblad says on Friday.

The offer from TMG, which publishes the country’s biggest daily paper, has been rejected by the NRC’s shareholders. However, TMG is now considering making a higher offer, the FD says.

Private investment group Egeria put NRC Media up for sale in March. It bought the company some four years ago for €70m together with media entrepreneur Derk Sauer.

Earlier on Friday, the Telegraaf announced a further drop in its first half profits due to declining ad sales and subscription numbers.