Britain's WPP rejects media report of bid for U.S. group IPG

Reuters

LONDON, Nov 15 (Reuters) - British advertising group WPP has dismissed a media report saying that the company isconsidering a takeover bid for rival Interpublic.

The Daily Mail reported on Friday that rumours were rife that 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.

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.

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