Independent News says has offers; source names Axel

* Independent says received a number of approaches

* Industry source says talks with Axel Springer broke down

DUBLIN, Sept 6 (Reuters) - Independent News & Media (INME.I) said on Sunday that it had received a number of approaches, and an industry source said that Germany's Axel Springer (SPRGn.DE) had been one of the suitors but those talks had broken down.

"The company has had a number of approaches from parties interested in taking a strategic investment in the group," a spokesman for the heavily indebted Dublin-based publishing group said.

"That's probably not surprising given the current share price which clearly does not reflect the true value of the business."

He declined to comment further.

An industry source told Reuters that Axel Springer had approached Independent News but those negotiations had ended.

"Those discussions are not ... underway (any more), the (proposal) did not reflect the true value of the business," said the source, who asked not to be named.

The source was confirming a report in the Irish edition of the Sunday Times, which said the German publisher had expressed an interest in the group.

An Axel Springer spokeswoman said the company's policy was never to comment on market rumours.

Independent News has been locked in talks with bondholders on refinancing a 200 million euro issue that was meant to be paid in May and has been rolled over ever since. This week saw the renewal of hostilities between Independent's two main shareholder groups, the O'Reilly family and Irish billionaire Denis O'Brien, over the best way to deal with the debt and the restructuring of the group. [ID:nL2446708] (Reporting by Andras Gergely; additional reporting by Marilyn Gerlach in Frankfurt; editing by Karen Foster)