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Havas Acquires Remaining Shares In The Media Planning Group

Havas Acquires Remaining Shares In The Media Planning Group

Havas Advertising is to acquire the 55% of the Media Planning Group (MPG) it does not yet own, it was announced yesterday. MPG is the leading media buying agency in Spain, Portugal, Mexico, Argentina and Colombia. It is ranked 2nd in France, 12-13th in the US and in the top ten in the UK and Holland. Havas Advertising will pay E503m (£322.9m), of which E452m (£290.2m) will be raised by issuing new shares and E51m (£32.7m) paid in cash.

Havas Advertising, a wholly-owned subsidiary of French media giants Vivendi, already owns 45% of MPG, and has done since March 1999. This latest acquisition, which should be completed by Havas’ May AGM, will allow the company to expand its media activities, which are not only fast-growing, but also show higher margins than its traditional advertising operations. Media operations will also be simplified by the move, and development will bring Havas closer to its goal of ranking in the top five in the media buying industry.

Havas: www.havas.com

UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch

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