In a statement to the London Stock Exchange this morning, French outdoor firm JCDecaux said that it has no current intention of bidding for its UK rival Maiden Outdoor.
However, the statement went on to say: "But [we] would reserve the right to do so in the event of a material change of circumstances, in particular in the event of a competing offer."
Press reports over the weekend linked the two companies, after an interview with JCDecaux co-chief executive, Jean-Francois Decaux, during which he suggested that the French company was considering expansion in the UK market.
Maiden chief executive Ron Zeghibe has refused to comment on takeover speculation. Other bids could potentially come from Clear Channel, which already owns the third-largest UK outdoor advertising firm More O'Ferrall, or the US media giant Viacom.
Changes to media laws in the communications bill could open up the way outdoor media is sold in the UK, with companies such as Viacom and Clear Channel being able to sell outdoor as part of a broadcast package. With Maiden being the largest independent outdoor seller in the country, it would likely be a prime target for takeover. The company is currently valued at around £119m.
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