Clear Channel expands in Finland

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Helsinki -- More Group Finland, a subsidiary of Clear Channel Communications, has acquired all shares in the Finnish outdoor advertising agency, Posternet. Shares in Posternet, which is based in Espoo, near Helsinki, were bought from the agency's founding directors, Reijo and Raija Ikaehei-monen. Neither side to the agreement disclosed the purchase price. The takeover is More Group's latest acquisition in Scandinavia. In July, the company acquired a 50% stake in Screen International. The Oslo-based agency creates advertising for relay on in-flight, back-of-seat TV monitors and monitors on NSB trains and buses in Norway.

Copyright January 2001, Crain Communications Inc.

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