In a statement issued this morning, a spokesman acting for Publicis said: "I can confirm that we are in discussions with Cordiant to buy certain assets."
News of the talks come after Cordiant's shares were suspended this morning at the UK ad group's own request.
On Friday, Publicis, working with US hedge fund Cerberus Capital Management, managed to block a WPP Group takeover bid.
WPP upped its offer to 拢246m on Sunday to try to keep Cordiant out of administration. Although not in administration yet, Cordiant could enter into it later today.
This morning, it was reported in the Financial Times that Cerberus had gone to the courts to apply for an administration order to place Cordiant in administration, although this has not been confirmed.
In a separate statement, Active Value Investors, which is now Cordiant's single largest shareholder, confirmed that court proceedings were expected to proceed later today.
However, Active Value, which holds 16.75% of Cordiant, is likely to oppose the administration order although it was refusing to comment on its next move.
The investment fund has put Richard Wheatly, former head of Jazz FM and Leo Burnett, forward as chairman to replace David Hearn.
Active Value has also called a emergency shareholder meeting to discuss its plans to keep Cordiant independent.
Publicis and Cerberus want to place the company into administration so that they can pick off certain assets, but it is by no means clear that it will be able to do this.
According to a French wire report, the deal between Cerberus and Publicis will see the hedge fund end up as a shareholder in Publicis.
The deal the two are hoping to get through would see Publicis pick up the outstanding 25% stake in ZenithOptimedia that it does not own, as well as Bates Worldwide and the 141 marketing services business.
Pharmaceuticals marketing firm Healthworld and design business Fitch would go to Cerberus.
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