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WPP remains interested in merged TNS/GfK - paper

Thu May 8, 2008 11:21pm IST
 
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FRANKFURT, May 8 (Reuters) - Advertising group WPP (WPP.L: Quote, Profile, Research) remains interested in market research firm Taylor Nelson Sofres (TNS.L: Quote, Profile, Research) even after a possible merger of TNS with Germany's GfK (GFKG.DE: Quote, Profile, Research), WPP's chief executive told a German newspaper.

But WPP Chief Executive Martin Sorrell declined to comment on the possibility of a hostile bid for Britain's TNS, Frankfurter Allgemeine Zeitung reported.

TNS is currently in talks over a nil-premium merger with market research firm GfK (GFKG.DE: Quote, Profile, Research), and has rejected two subsequent bids valued at as much as 950 million pounds ($1.86 billion) from WPP as undervaluing the company.

WPP has said it is disappointed that TNS has not shown willingness to provide the same information to WPP as it has given to GfK and has called on TNS shareholders to urge it to engage over the matter. (Reporting by Peter Dinkloh; editing by Rory Channing)

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