Contradictory reports on Stroer's intentions towards CM

According to unofficial information, German outdoor advertising company, Stroer out of home, the second largest player on the market after AMS, is close to striking a deal to take over Cityboard Media (CM), owned by Maestro Investments. The main reason motivating Stroer is CM's area of expertise in large format billboards, which Stroer lacks, as it just began the process of building its network of billboards sized of 18 square meters, as compared to the traditional size of 12 square meters. "Cityboard would perfectly fit into Stroer's network," said a representative of one of the companies in question. Although Stroer intentions towards Cityboard has been officially announced, representatives of the latter company deny such plans. "We have not received any offer and are not waiting for one. Cityboard is not for sale," said Marcin Stan, Cityboard's President. During the first three quarters of 2003, CM recorded a 35% increase in revenues as compared to the same period last year. (Puls Biznesu, p. 8) A.K.