Marcoms giant Publicis Groupe cancels newly-acquired shares from Dentsu

Publicis Groupe has purchased a block of its own shares from Dentsu in order to cancel them.

Chairman and chief executive: Maurice Lévy
Chairman and chief executive: Maurice Lévy

The marcoms group announced this morning that it had purchased 7,500,000 of its shares for a total price of €217.5m or €29 per share.

The transaction took place this morning before the opening of the Paris Stock Market and the shares were cancelled.

The purchase price was financed with available cash and takes place under Publicis' buyback programme, approved by shareholders in June 2009.

Dentsu still owns 15 per cent of Publicis voting rights and will continue to be represented on the supervisory board.

 

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