Statement re Cordiant
July 15 2003 - 3:01AM
UK Regulatory
RNS Number:5479N
Publicis S.A.
14 July 2003
Publicis Groupe SA position concerning Cordiant
Paris, July 14, 2003 - Notwithstanding the announcements made by Publicis on
July 11 and 13 there has been inconsistent reporting of Publicis' intention
regarding Cordiant. Publicis Groupe SA reiterates that since June 17, when the
Supervisory Board (Conseil de Surveillance) unanimously decided not to engage in
an auction process for Cordiant, Publicis has had and continues to have no
interest in acquiring, either directly or indirectly, shares in Cordiant or in
participating, either directly or indirectly, in any possible attempt to gain
control of Cordiant. As we have consistently repeated, our interest remains
limited to certain specific assets: Cordiant's 25% shareholding in
ZenithOptimedia Group, in which Publicis holds the remaining 75% of the shares;
the media agencies operating under the Zenith brand pursuant to franchise
agreements entered into with ZenithOptimedia Group, and some assets which have
links with our clients. We stated in our press release of July 11 that our
interest was solely in these assets.
UK Active Value asked to meet with us last week. After first declining to meet,
we finally met with representatives of UK Active Value on Saturday, July 12,
after having been authorised to do so by the UK Takeover Panel. The proposal
made to us by UK Active Value was declined because, amongst other things, it
would have involved Publicis being a party to arrangements that may have led to
a change of control of Cordiant.
Publicis reserves its rights in relation to any commercial arrangements with
Cordiant following a change of control of Cordiant.
Publicis Groupe SA (Euronext Paris : 13057, NYSE : PUB) is the world's fourth
largest communications group, as well as world leader in media counsel and
buying. Its activities span 109 countries on six continents.
Groupe activities cover advertising, through three autonomous global advertising
networks : Leo Burnett Worldwide, Publicis Worldwide, Saatchi & Saatchi
Worldwide, as well as through its two multi-hub networks Fallon Worldwide and
Bartle Bogle Hegarty, 49%-owned ; media counsel and buying trough two worldwide
networks ZenithOptimedia and Starcom MediaVest Group; marketing services and
specialized communications including direct marketing, public relations,
corporate and financial communications, multicultural and healthcare
communications.
Web sites: www.publicis.com and www.finance.publicis.com
Contacts
Corporate Communications : Eve Magnant - 00 33 (0)1 44 43 70 25
Investor Relations : Pierre Benaich - 00 33 (0)1 44 43 65 00
This information is provided by RNS
The company news service from the London Stock Exchange
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