It is unknown to whom Ms. Bleustein-Blanchet hopes to sell her $120m to $155m stake in Publicis. However, some agency insiders speculate that she is likely to seriously consider all bids. Agency officials says Publicis currently has no plans to buy the tendered shares, largely because it already commands a hefty majority in capital ownership as well as board votes.
Paris-based Publicis Communication is the world's 13th largest advertising organization with 1996 gross income of $676.8m. It owns Publicis, the second largest ad agency network in Europe, and FCA! BMZ, the 19th biggest.
Copyright June 1997, Crain Communications Inc.