Investment group PPF, owned by the Czech Republic's richest man Petr Kellner, is the last remaining bidder to buy broadcaster Central European Media Enterprises (CME) from AT&T, Czech news server hlidacipes.org reported on Tuesday.

AT&T holds 64% of CME's common stock but effectively controls 75% of the company when factoring in preference shares. It inherited CME after its merger with Time Warner, Reuters notes.

Hlidacipes.org, citing unnamed sources, reported that AT&T was seeking around 47 billion crowns ($2 billion) for the company. A PPF spokeswoman said the firm does not comment on market speculation. CME officials were not immediately available for comment.

CME, which owns TV stations in five central and eastern European countries, has seen rising profit in recent years and has cut into a debt pile that once stood above $1 billion. In July it raised its core profit forecast for the second time this year.

In March, CME launched a strategic review, saying the sale of part or all of the company was among options. CME shares traded up 1.7% in Prague and have gained 71% since the start of the year.