Weber tipped to have bought biggest Latin American firm, Nueva

nullCAMBRIDGE, MA: Rumors continue to fly that Weber Public Relations Worldwide has acquired the largest PR firm in Latin America, the Argentina-based Nueva Communicacion, for a price of as much as dollars 26 million.

nullCAMBRIDGE, MA: Rumors continue to fly that Weber Public Relations Worldwide has acquired the largest PR firm in Latin America, the Argentina-based Nueva Communicacion, for a price of as much as dollars 26 million.

CAMBRIDGE, MA: Rumors continue to fly that Weber Public Relations

Worldwide has acquired the largest PR firm in Latin America, the

Argentina-based Nueva Communicacion, for a price of as much as dollars

26 million.



One Argentine news source said the deal has already been completed, but

Nueva head Cesar Mansilla has denied this. He acknowledged, however,

that he is in conversations with several interested parties, although he

said none has made him a high enough offer to make selling

attractive.



Nueva had 1998 revenues of dollars 7.3 million, a 20% increase over

1997, and works with clients such as Citicorp Equity Investment and

Telefonica.



Larry Weber, chairman and CEO of Weber PR Worldwide, has admitted that

he plans on acquiring an Argentine agency by the end of the year

(PRWeek, June 14), but an agency spokesperson denied that a Nueva

acquisition is imminent.



’We are on an acquisition binge, but we have nothing to say about this,’

said Weber vice president Rebecca Seel Oddsund.



Sources say that Nueva has been offered between dollars 15 and dollars

26 million by several agencies looking to buy the firm.



The Exxel Group, an Argentine buyout fund, has also been identified as a

potential suitor, although the company has officially denied that it is

interested.



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