(Reuters) - British online investment platform Hargreaves Lansdown is in talks with a consortium led by CVC Advisers and the Abu Dhabi Investment Authority about a revised offer and is expected to extend the bid deadline, Sky News reported on Tuesday.

Hargreaves Lansdown last month said it had rejected a 4.67 billion pound ($5.94 billion) takeover proposal from the CVC-led consortium, as the potential offer "substantially" undervalued the its prospects.

The consortium currently has until Wednesday to make a formal offer for Hargreaves or walk away.

($1 = 0.7892 pounds)

(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Mrigank Dhaniwala)