Cheil Worldwide says shareholder in talks with global agencies on cooperation

Cheil Worldwide

17/02/2016 01:51

SEOUL, Feb 17 (Reuters) - Cheil Worldwide Inc  030000.KS , 
an advertising agency arm of South Korean conglomerate Samsung 
Group, said on Wednesday that its key shareholder is in talks 
with global agencies on various types of cooperation.  
    Cheil, in a regulatory filing, did not name the shareholder 
and said the talks had so far not led to any concrete results. 
Various Samsung firms including Samsung C&T Corp  028260.KS  and 
Samsung Electronics Co Ltd  005930.KS  collectively control 
around 28.6 percent in the advertising agency. 
    South Korea's Hankyoreh newspaper reported late Tuesday that 
Samsung Group is seeking to divest from Cheil, citing unnamed 
sources. A Samsung Group spokesman declined to comment on the 
report on Wednesday.  
 
 (Reporting by Se Young Lee; Editing by Richard Pullin) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
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Keywords: CHEIL WORLDWIDE SAMSUNG GROUP/