Publicis Groupe: "Purely speculative": Madison World on stake sale to Havas, Publicis

New Delhi: Madison World has refuted recent media reports suggesting that Havas and Publicis Groupe were in advance stages of talks to acquire a majority stake in the homegrown advertising network, calling them "purely speculative."In a statement to BestMediaInfo.com, Madison clarified that while there has always been interest in the company, nothing concrete has materialised.However, the company also acknowledged its openness to partnerships but emphasised that any collaboration must align with its long-term vision. "We have been open to a partnership, but the terms must be appropriate, serve the best interests of our clients and employees, and help future-proof Madison," the statement read.Earlier on March 26, news reports stated that Publicis Groupe and Havas had entered separate negotiations to acquire a majority stake in Madison World. Quoting sources, the report indicated that Balsara is keen to sell a controlling stake to enhance Madison's scale and global reach.It is to be noted that the past talks with other networks, like WPP a decade ago, fell through overvaluation disputes.