Samsung C&T says talks with Publicis, others on ad affiliate over (updated)

Cheil Worldwide

13/06/2016 11:09

* Samsung C&T says Publicis among agencies it was in talks 
with 
    * C&T not currently in talks with any party on Cheil 
Worldwide 
    * Local media say Samsung Group firms seeking to sell Cheil 
shares 
 
 (Adds comments from Samsung C&T, background) 
    SEOUL, June 13 (Reuters) - Samsung C&T Corp  028260.KS , de 
facto holding firm of Samsung Group  SAGR.UL , said on Monday 
talks with Publicis Group SA   PUBP.PA  and other global ad 
agencies for strategic cooperation for its ad agency affiliate 
ended without any conclusion. 
    A Samsung C&T spokeswoman declined to comment on whether it 
and other Samsung Group affiliates were considering selling 
their shares in Cheil Worldwide  030000.KS  to Publicis or 
others. France-based Publicis said earlier this year it was in 
talks to acquire a stake in Cheil. 
    Local media reported that Samsung Group companies were 
looking to sell their collective 28.3 percent stake, worth 525.5 
billion won ($447.8 million) based on Monday's closing price, to 
Publicis as South Korea's top family-run conglomerate looked to 
restructure its business portfolio and narrow its focus on core 
business areas such as technology. 
    Samsung C&T said it was not currently in talks with any 
parties. Cheil confirmed that Samsung C&T, Cheil's top 
shareholder with a 12.6 percent stake, ended talks with "global 
agencies" without a concrete result in a separate filing but did 
not comment further, including the names of the agencies Samsung 
C&T had held talks with. 
    Publicis could not be immediately reached for comment. 
 
 ($1 = 1,173.5500 won) 
 
 (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/