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JCDecaux is in talks to purchase News Corp.’s News Outdoor Group for as much as $1 billion.
News Outdoor Group has been focusing on growing its outdoor advertising business in emerging markets across Europe and Asia, writes the Guardian. It has operations in Russia, Bulgaria, the Czech Republic, Israel, Poland, Romania, Ukraine, Malaysia, Indonesia, Thailand and Vietnam.
The deal would “just about” allow JC Decaux to overtake Clear Channel Outdoor as the world’s largest outdoor advertiser, saysConor O’Shea, analyst at Landsbanki Kepler (via The Wall Street Journal). But the deal carries risks, including the price, limited cost benefits and the use of shares to partly finance the deal.
Earlier this week, investigators raided the offices and production facilities of News Outdoor Group’s Russian operations, as part of an investigation into negligence charges against an executive of Moscow’s committee for advertising and information. News Outdoor Russia, the largest outdoor company in the nation, does not face any charges, according to a spokeswoman for the company, who said that the search was entirely related to the investigation of the advertising committee official.
News Corp. said last year it was exploring a sale of News Outdoor Group, which controls more than 50 percent of Russia market share, and as much as 90 percent in some cities.
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