Cheil Worldwide says shareholder's talks with global agencies broke off

Cheil Worldwide

13/06/2016 09:34

SEOUL, June 13 (Reuters) - South Korean advertising agency 
Cheil Worldwide Inc  030000.KS  said on Monday talks between its 
key shareholder and global agencies broke off without any 
conclusion. 
    Cheil, in a regulatory filing, said the shareholder was not 
engaged in any talks for cooperation with other third parties at 
present. The firm did not identify the shareholder or any third 
parties in the filing. 
    Samsung C&T Corp  028260.KS , Cheil's top shareholder with a 
12.6 percent stake, said in February it was in talks with global 
advertisement agencies for potential cooperation without 
identifying who it was negotiating with. Publicis Groupe SA 
 PUBP.PA  earlier this year acknowledged that it was in talks 
with acquiring a stake in Cheil. 
 
 (Reporting by Se Young Lee; Editing by Gopakumar Warrier) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
me on Twitter @Rover829)) 
 
Keywords: CHEIL WORLDWIDE SHAREHOLDER/