AMS urges Agora to adopt more friendly approach in continuing bid

Tomasz Kawka, president of Art Marketing Syndicate (AMS), Poland's largest outdoor advertising company, has urged media group Agora not to give up on its plans to take control of AMS. But he suggested that Agora should approach the deal in a more friendly manner. '[Agora] called a public bid for AMS shares suddenly, without approaching our management and major shareholders, and this is why the bid has been perceived as hostile,' said Kawka. He added, however, that Agora should not give up on its plans, as there is no other outdoor advertising firm that could fit Agora's ambitions. Another issue is the price offered to current shareholders, with Kawka deeming the recent Agora bid of zl.70 per share and that by French group JC Decaux of zl.66 per share as too low. After the rejection of its offer, Agora announced that it is no longer interested in AMS, particularly in view of recently-introduced restrictions on alcohol and tobacco advertising, which will be a major blow for the outdoor advertising industry. (Puls Biznesu, p.4) T.J.