The World: Berlin - Ownership of Scholz & Friends under discussion

The future ownership of the Germany-based network Scholz & Friends is under discussion.

Morgan Stanley has been drafted in as an advisor, raising the possibility that Scholz's Commarco parent might consider an IPO or a sale to a major marcoms holding company.

Thomas Heilmann, the Scholz chief executive, said: "All options are open. We've taken another look at the IPO option and come to the conclusion that it is basically feasible. Our growth record is better than our competitors, and that makes us very attractive to investors." Once part of the Cordiant group, Scholz signed a global alliance with Lowe earlier this year.

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