According to Reuters, JCDecaux may make a bid for rival Clear Channel’s European advertising assets.
Sources say that JCDecaux met with investment banks recently to appoint a financial advisor that will help put together an offer. It is thought that the deal will be valued at more than $2.5 billion. To avoid antitrust issues, the French company may work with a private equity firm, splitting the assets between the two.
Such a deal would merge the assets of two of the largest outdoor advertising agencies in Europe.
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As we reported last month (Display Monitor Vol 21 No 45), Clear Channel is said to be seeking a buyer for its European assets, following offers from private equity firms. (TA)
