LONDON Nov 15 British advertising group WPP
has dismissed as "completely inaccurate" a media report
suggesting it is considering a takeover bid for rival
The Daily Mail reported on Friday that rumours were rife
that WPP, the world's largest advertising group, is lining up a
$25-a-share cash offer for the U.S. group. Interpublic's shares
closed on Thursday at a little more than $17.
"We strongly refute this report," a WPP spokesman said on
Friday. "It is completely inaccurate."
Shares in WPP were up 1.6 percent at 1335 GMT, outperforming
a 0.4 percent gain by the FTSE 100 index. The shares are up
nearly 4 percent since the group reported strong results in
October, showing it was winning market share.
Analysts have questioned whether the British group would
look to make further acquisitions after its two biggest
challengers, Omnicom of the U.S. and France's Publicis
, announced merger plans in July.
The combined group would overtake WPP as the world's largest