The statement was issued this morning after speculation in the press that, despite having rejected a proposal by fund manager Active Value, it was still in some way interested in helping gain control of Cordiant.
The speculation all centred on Publicis' desire to buy the 25% of ZenithOptimedia Group it does not already own at a discount 拢4m, which would only happen if there was a change of control at Cordiant.
This morning, Publicis said that, notwithstanding the announcements made by Publicis on July 11 and 13, there has been inconsistent reporting of its intention regarding Cordiant.
"Publicis has had and continues to have no interest in acquiring, either directly or indirectly, shares in Cordiant or in participating, either directly or indirectly, in any possible attempt to gain control of Cordiant," its statement said.
"Our interest remains limited to certain specific assets: Cordiant's 25% shareholding in ZenithOptimedia Group, in which Publicis holds the remaining 75% of the shares. We stated in our press release of July 11 that our interest was solely in these assets," it said.
As widely reported yesterday, Publicis met with Active Value, which owns nearly 28.75% of Cordiant, at the weekend having at first declined to do so. It said it was authorised to do so by the UK Takeover Panel, scotching any rumours that its talks with the fund manager could see it investigated.
"The proposal made to us by UK Active Value was declined because, among other things, it would have involved Publicis being a party to arrangements that may have led to a change of control of Cordiant", the Publicis statement said.
The fresh comments from Publicis follow yesterday's war of words with Sir Martin Sorrell's WPP Group, which called the French company's statements inconsistent. "Our view is that what Publicis said on Friday ... is wholly inconsistent with the comments that Mr Levy made in The Sunday Telegraph and ... with holding a meeting Saturday with Active Value."
The WPP spokesman said that Publicis' comments added to the uncertainty surrounding Cordiant and "compounds the potential for a false market in Cordiant shares to continue".
Publicis' statement this morning made no further mention of Syrian-born billionaire Nahed Ojjeh, who yesterday was revealed to have bought more Cordiant shares.
Ojjeh added to her stake in Cordiant by buying another three-quarters of a million shares, raising her stake in the company from 9.89% to 10.1%.
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