The World: Barcelona - GMT merges three outdoor agencies into Redext

GMT Communications, the European venture capitalist group, has acquired three Spanish independent outdoor advertising companies.

Instalaciones Especiales de Publicidad Exterior, Soportes and Impursa will now be combined under the name Redext, which will become the fourth-largest outdoor advertising company in the country.

"This is a unique opportunity to acquire the top companies in Spain's fastest-growing advertising sub-sector," Antonio Sanchez de Leon, the chief executive of Redext, said.

"We see significant growth within these companies and the opportunity to make further acquisitions."