Havas considering Grey Global acquisition

NEW YORK: Paris-based Havas is talking to Grey Global about a possible acquisition of Grey, according to the Havas' director of external relations.

NEW YORK: Paris-based Havas is talking to Grey Global about a possible acquisition of Grey, according to the Havas' director of external relations.

Peggy Nahmany told PRWeek today that "top management" at Havas was "obviously" talking to New York-based Grey about buying the world's seventh-largest agency holding company.

Nahmany was responding to comments made Monday to Le Figaro, the Paris daily, by Havas chairman Alain de Pouzilhac. Pouzilhac said Havas was interested in buying Grey, which confirmed last week that it has hired Goldman Sachs & Co. and JP Morgan to explore a possible sale.

"They have expressed interest," Nahmany said of Havas management. "Now, they have to look at Grey, and will make a decision."

Speculation about a possible Grey sale has swirled in the media since late June. Publicis Groupe and Omnicom have both said they will not buy Grey, and WPP has declined to comment.

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