German advertiser Stroeer's sale in doubt as economy falters
LONDON/FRANKFURT (Reuters) -German group Stroeer's sale of its multi-billion-euro outdoor advertising business has suffered a setback as two bidders balked at the asking price, amid worries over the country's economy, three people familiar with the talks told Reuters. Stroeer, Germany's leading outdoor advertiser, is a bellwether of Europe's biggest economy, which is deep in recession and uncertainty as it awaits the outcome of negotiations to establish a government. Stroeer said in January it had received indicative offers from private equity investors for its "out-of-home" advertising business that is responsible for thousands of posters, billboards and digital screens across the country's train stations, shopping centres and town squares.