Internet service provider freenet.de said on Wednesday it is interested in acquiring AOL's internet access business in Germany, but declined to say how much it has bid.

AOL has received bids of "well over" 600 million euros ($770 million) for its German internet access business, reports Reuters, citing an AOL source close to the negotiations. Apparently, other bidders include Telecom Italia and Versatel. The German internet access unit of Time Warner's AOL has some 2.5 million subscribers.

Earlier reports had the bids coming in at 400-450 million euros, below AOL's earlier target of 600 million euros. As part of AOL's recent restructuring - it is giving away its services, relying on advertising for revenue - Time Warner has put AOL's access business in European markets up for sale.