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Media Planning Group has acquired the privately owned German agency Schmitter Media Agentur as it signals a preference for piecemeal international growth following the failure of Havas' bid for Tempus.
The deal, a price for which has not been made public, will dampen speculation that Havas is preparing a bid for Aegis, the owner of the Carat media network.
"This was one of our short-term priorities and it has been accomplished." We will now continue to develop and strengthen MPG with the aim of being in the top five by 2003," Havas' chairman and chief executive, Alain de Pouzilhac, said.
Schmitter will be rebranded as MPG Schmitter Media Agentur, giving the MPG network a branded outpost on German soil for the first time. Schmitter's billings of more than 300 million euros, which places it in the German top ten, ...