INTERNATIONAL NEWS: GCI, BSMG to enter Argentine market

BUENOS AIRES: The already hot Argentine market looks set to heat up even further in upcoming weeks, with GCI Group and BSMG reportedly closing in on acquisitions in the country.

BUENOS AIRES: The already hot Argentine market looks set to heat up even further in upcoming weeks, with GCI Group and BSMG reportedly closing in on acquisitions in the country.

BUENOS AIRES: The already hot Argentine market looks set to heat up

even further in upcoming weeks, with GCI Group and BSMG reportedly

closing in on acquisitions in the country.



After failing to complete a deal with three potential candidates in

Argentina last year, GCI is deep in talks to acquire Personally. That

firm, headed by Alicia von der Wettern and Laura Palermo, is considered

one of the country’s premier agencies and holds prestigious

multinational accounts with Pepsi, IBM and Procter & Gamble. Boasting

annual billings of around dollars 1 million, Personally has also done

media relations in Argentina for GCI’s parent, Grey Advertising.



If the deal is consummated, it would end a protracted and frustrating

courtship period in the country for GCI. The agency was close to

acquiring Muchnik, Alurralde, Jasper & Asociados in January, but the

Argentine firm abruptly switched gears and sold a minority stake to

Manning, Selvage & Lee. Talks with two other local PR agencies, GM

Comunicaciones and Goldenberg, also proved fruitless.



BSMG, on the other hand, has targeted MP&M, a top-10 Argentine agency

boasting star clients like Telefonica. Headed by arts guru Julio Suaya,

MP&M is ranked third in the country with billings of dollars 3.5

million.



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