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Article: Benatti-Sorrell feud hits an impasse over FullSix; Marco wants control; Martin won't relinquish media-company shares.(Marco Benatti and Martin Sorrell WPP Group PLC tries to acquire FullSix)
- Article from:
- Advertising Age
- Article date:
- March 6, 2006
- Author:
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ERIC J. LYMAN
[rome] Like divorcing spouses, each stubbornly refusing to surrender the house, Marco Benatti and Martin Sorrell are being forced into uncomfortable cohabitation.
Mr. Benatti and his former employer, Mr. Sorrell's WPP Group, are pursuing bitter lawsuits against one another, yet find themselves locked in an uneasy partnership as the two biggest shareholders in Italian media company FullSix.
Mr. Benatti has been trying to acquire control of FullSix, which would require WPP to tender its 26% share of the company. But so far it hasn't budged. After exercising some stock options, Mr. Benatti's stake in FullSix rose slightly ...