City says CCG is ripe for takeover

Havas, the world’s sixth largest communications group, has denied weekend press reports of a £700m bid to buy UK rival Cordiant Communications Group.

The company issued a statement on Monday confirming it was not in discussions with CCG and a spokesman adds today, ‘There is no offer on the table.’

CCG has made a similar denial, but the City believes the group is ripe for takeover. Numis Securities media analyst Paul Richards says, ‘It’s a case of when rather than if.’

According to Richards, ‘two or three other’ major players, including Omnicom and WPP Group have an interest in CCG, but Havas remains the ‘most likely’ buyer.