German automotive giant Volkswagen is moving closer to buying Europcar Mobility Group, according to information provided to Bloomberg News.

A group of investors led by the German carmaker has raised its offer to around 0.50 euros per share, or around 2.5 billion euros. The offer represents a 27 percent premium to the price on June 22, the day before it was announced that an initial bid had been made. 

An agreement could be reached as early as this week, but with complex negotiations and approximately 10 stakeholders, there is a possibility that the deal will be postponed.

Source: FinWire