Article: Ojjeh paves way for knockdown Zenith bid by Publicis.

Byline: David Rothnie

Syrian billionaire Najeh Ojjeh's secret shareholding in Cordiant Communications, the subject of a takeover bid by UK advertiser WPP, has given Publicis, the French advertising group, the chance to snatch control of Zenith Optimedia for as little as [pounds sterling]3.5m ([euro]5m).Zenith Optimedia is the media-buying joint venture between Cordiant and Publicis whereby Cordiant controls 25% and Publicis, owns the remaining 75%.

Publicis' advisers included Veil, Jourde La Garanderie, the Paris-based law firm which also advised Ojjeh on her 10.75% shareholding in Cordiant, along with UK law firm Simmons and Simmons. Stuart Evans, a ...

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