June 25, 2018 / 7:08 AM / a month ago

JC Decaux still in talks over offer for Australia's APN

PARIS, June 25 (Reuters) - French outdoor advertising company JC Decaux said on Monday it was still in talks with Australian billboard firm APN Outdoor Group over its offer to buy APN, currently worth around $810 million.

“Until a transaction is agreed between the parties, there is no certainty that the proposal will result in any transaction. JC Decaux will continue to update the market in relation to the proposal,” the French company said in a statement.

JC Decaux, which sells ads in bus stops and billboards, has offered A$6.52 per APN share, valuing APN at around A$1.09 billion ($808.8 million).

Earlier on Monday, APN Outdoor was beaten by rival Australian advertiser Ooh!Media Ltd in a bid to buy bus stop advertising business Adshel. ($1 = 1.3477 Australian dollars) (Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

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