Shares in newspaper publisher Trinity Mirror received a boost amid rumours of a possible overseas bid for the company.

Bennett, Coleman & Co, the company behind the Times of India Newspaper, are said to be looking for foreign acquisitions and recently bought Virgin Radio in a £53m deal.

For a brief period yesterday the company’s shares rose by 6pc before finishing at 92.25p, up 3.94pc.

Bennett, Coleman & Co has reportedly approached some large Trinity Mirror shareholders with a proposal to buy their stakes with a view to launching a formal offer for the regional and national newspaper publisher.

A Trinity Mirror spokesman said the company did not comment on market speculation.