For full story go to www.elmundo.es/elmundo/2012/07/28/andalucia_malaga/1343507195.html
The report is an investment group from Albania owned by Rezart Taci, an oil tycoon, is the possible buyer. With Russian and Ukrainian money, too. This guy has been linked with a couple of Serie A clubs in the past: Bologna, and Milan. I have no idea if he would pass the EPL's "fit and proper persons" test or not, but of course this being Spain he wouldn't have to.
Meanwhile, the Guardian is reporting an agreement has been reached with Arsenal to sell Santi Cazorla, though since the price reported on twitter is only €18m, and Arsene Wenger is still denying anything is happening, skepticism is warranted. Meanwhile, as far as is known Villarreal and Osasuna's denunciations to UEFA need to be resolved by July 31, or else Malaga's Champions League dream may be over before it starts.