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EU: Ad rivals JCDecaux, Clear Channel explore a tie-up

By  |  December 8, 2014

US outdoor advertising rivals JCDecaux and Clear Channel Outdoor Holdings are reportedly exploring an agreement to merge their operations within the EU.

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    According to unnamed sources, JCDecaux is considering a bid to acquire its rival’s EU assets, a deal that would combine the forces of Europe’s two largest outdoor advertising groups. The sources said Monday that JCDecaux has already met with banks to discuss financing the deal for the assets, which could be worth upwards of $2.5 billion.

    While reports say the deal is likely to attract antitrust scrutiny, the sources also said that JCDecaux is considering an offer that would include a joint-bid for the assets with a private equity firm. Following the deal the advertising company would then split the assets. Still, JCDecaux is still considering a solo bid.

    Reports emerged last month that Clear Channel Outdoor was seeking possible divestiture deals in Europe to reduce its debts.

    Full content: Reuters

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