French advertiser confirms its in talks to buy News Outdoor

French outdoor advertising specialist, JC Decaux, has announced in a statement that it is in negotiations to buy Rupert Murdoch’s Russian based East European outdoor advertising group News Outdoor.

The statement indicated that any transaction would involve cash and shares and result in the combination of certain JC Decaux and News Outdoor group assets.

News Outdoor has extensive operations in Eastern Europe, along with others in South East Asia. The announcement comes after Rupert Murdoch recently voiced criticisms of Russia’s investment climate, and the recent raiding of News Outdoor’s Moscow office, in connection with a negligence case bought against a member of the Moscow administration’s advertising committee.