(Reuters) - Australia's APN Outdoor Group Ltd confirmed on Tuesday it had submitted a bid to buy HT&E's outdoor advertising unit, Adshel, for an enterprise value of A$500 million ($379.05 million).
APN’s proposal comes after HT&E said on Monday oOh!media's A$470 million offer was not the “most attractive”.
APN said it hasn't reached an agreement for the proposed acquisition.
($1 = 1.3191 Australian dollars)
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Muralikumar Anantharaman)
