Havas Says It May Have The Green For A Grey Bid

  • July 27, 2004
Havas Chairman Alain de Pouzilhac Tuesday told French newspaper Le Figaro that the Paris-based agency holding company is interested in acquiring U.S.-based Grey Worldwide and might have the necessary financial backing to make a bid. Havas owns the MPG media network. Grey owns MediaCom Worldwide; two agencies that had pitched but recently lost Procter & Gamble's coveted communication planning account. Prior to de Pouzilhac's disclosure, WPP - parent of MindShare and Mediaedge:cia - had been seen as the only likely bidder for Grey, which has announced its desire to sell its publicly traded, but tightly held agency network in its entirety.
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