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JC Decaux still in talks over offer for Australia's APN

Published 25/06/2018, 05:06 pm
© Reuters. JC Decaux still in talks over offer for Australia's APN

PARIS, June 25 (Reuters) - French outdoor advertising company JC Decaux JCDX.PA said on Monday it was still in talks with Australian billboard firm APN Outdoor Group APO.AX over its offer to buy APN, currently worth around $810 million.

"Until a transaction is agreed between the parties, there is no certainty that the proposal will result in any transaction. JC Decaux will continue to update the market in relation to the proposal," the French company said in a statement.

JC Decaux, which sells ads in bus stops and billboards, has offered A$6.52 per APN share, valuing APN at around A$1.09 billion ($808.8 million).

Earlier on Monday, APN Outdoor was beaten by rival Australian advertiser Ooh!Media Ltd OML.AX in a bid to buy bus stop advertising business Adshel. ($1 = 1.3477 Australian dollars)

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