Update: Dentsu Board to Decide on Soken Privatization After Reported Itochu Acquisition

MT Newswires Live

Aug 28

(Updates to add Dentsu Soken's ticker)

Dentsu Group (TYO:4324) said its board of directors will meet Friday to decide on matters related to its system developer unit, Dentsu Soken (TYO:4812), with a formal announcement to follow.

The move is in response to a Nikkei report that trading house Itochu (TYO:8001) plans to acquire a 38.2% stake in Dentsu Soken for about 250 billion yen and subsequently take it private.

Dentsu acknowledged the report in a stock exchange filing Friday, but clarified that no official decision had been released by the company prior to the media coverage.

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