• September 6, 2001

European Union antitrust authorities Wednesday announced clearance for Havas Advertising SA's $613 million purchase of British media buying agency Tempus Group PLC.

The deal, valued at 425 million pounds, will elevate France's Havas to the world's fourth-largest advertising holding company after Interpublic Group and Omnicom Group of the United States and Britain's WPP Group.

The European Commission said the deal doesn't raise any competition concerns in the marketing communication services or media-buying markets.