LONDON, Nov 15 (Reuters) - British advertising group WPP has dismissed as "completely inaccurate" a media reportsuggesting it is considering a takeover bid for rivalInterpublic.
The Daily Mail reported on Friday that rumours were rifethat WPP, the world's largest advertising group, is lining up a$25-a-share cash offer for the U.S. group. Interpublic's sharesclosed on Thursday at a little more than $17.
"We strongly refute this report," a WPP spokesman said onFriday. "It is completely inaccurate."
Shares in WPP were up 1.6 percent at 1335 GMT, outperforminga 0.4 percent gain by the FTSE 100 index. The shares are upnearly 4 percent since the group reported strong results inOctober, showing it was winning market share.
Analysts have questioned whether the British group wouldlook to make further acquisitions after its two biggestchallengers, Omnicom of the U.S. and France's Publicis, announced merger plans in July.
The combined group would overtake WPP as the world's largestadvertising company.
- Mergers, Acquisitions & Takeovers