Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UK politics instability raises British ad market uncertainty, JCDecaux says

Published 15/11/2018, 13:58
© Reuters.  UK politics instability raises British ad market uncertainty, JCDecaux says
JCDX
-
MS
-

BARCELONA (Reuters) - A series of cabinet resignations in Britain over a draft divorce deal with the European Union reinforces uncertainties over the future of the country's ad market, the co-chief executive of outdoor advertising company JCDecaux (PA:JCDX) said on Thursday.

Just over 12 hours after British Prime Minister Theresa May announced that her team of top ministers had agreed to the terms of the draft agreement, Brexit minister Dominic Raab and work and pensions minister Esther McVey quit, saying they could not support it.

"The situation is obviously very serious," Jean-Charles Decaux told Reuters in an interview on the sidelines of the Morgan Stanley (NYSE:MS) TMT conference in Barcelona.

"Today's events reinforce the uncertainties in this market," the French company's executive added.

JCDecaux, the world's leading outdoor advertising company, manages the bus shelter advertising concession by Transport for London (TfL). Britain is its third biggest market and represents 10 percent of its total revenues.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.