Position concerning Cordiant
11 Julio 2003 - 9:47AM
UK Regulatory
RNS Number:4686N
Publicis S.A.
11 July 2003
Publicis Groupe SA position concerning Cordiant
Paris, July 11, 2003 - In light of recent press reports in the United Kingdom,
Publicis Groupe SA would like to make clear its position regarding Cordiant
Communications Group plc:
* At the Supervisory Board (Conseil de Surveillance) meeting of June
17th, 2003, Maurice Levy, Chairman and CEO (President du Directoire),
recommended that Publicis not enter into an auction process for Cordiant
and that it withdraw from all further negotiations regarding the
acquisition of Cordiant. This recommendation was unanimously approved by
the Board.
* In this matter, Publicis Groupe has only an interest limited to a few
specific assets including Cordiant's 25% shareholding in ZenithOptimedia
Group and the franchises operating under the name of Zenith. On this
specific subject, Sir Martin Sorrell committed to sell those interests to
Publicis. Since then, no further negotiations have occurred.
* Publicis Groupe SA is in no way involved either directly or indirectly
in recent developments regarding Cordiant's shares:
* Neither Publicis nor its advisors have had any contact or held any
discussion of any kind regarding Cordiant with Mrs Ojjeh, or with her
advisors, save that Publicis Groupe SA was informed of the fact that
she had become a shareholder of Cordiant; Publicis has no knowledge of
Mrs Ojjeh's intention in respect of Cordiant.
* Publicis Groupe has been approached by UK Active Value and its
advisors with proposals regarding Cordiant. Publicis Groupe has
rejected these proposals.
* Publicis Groupe has no intention to participate either directly or
indirectly in any possible attempt to gain the control of Cordiant.
* Publicis Groupe SA remains interested solely in the Cordiant assets to
which Publicis is linked by shareholding, by a brand belonging to Publicis
or through clients which have selected Publicis. Therefore, Publicis Groupe
does not intend to do anything further, before the situation regarding
Cordiant is clarified.
Maurice Levy said, "Our position has always been very clear and we will not
accept that intentions or actions contrary to reality be attributed to us."
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
END
MSCUASSRORRBAAR