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DECAUX BID FOR MORE CRASHES

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French council street furniture giant Decaux has admitted defeat in its bid to take over UK rival the More Group. ...
French council street furniture giant Decaux has admitted defeat in its bid to take over UK rival the More Group.

Clear Channel Communications, which has been vying with Decaux, has been buying More Group shares heavily, and enough remaining shareholders have agreed to the US company's revised£475 million offer for the group.

Decaux's original£475m bid had been referred to the Monopolies and Mergers Commission after fears that the takeover would give it a stranglehold on the£100m market for advertising on council bus shelters and other items

(LGC, 29 May).

A Decaux spokesman said: 'It's game over. As far as Decaux is concerned, Clear has got a good deal. But we will continue to compete in this market.'
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