Publicis Groupe SA (PUB.FR) would look at Microsoft Corp.'s (MSFT) digital advertising agency Razorfish if it were up for sale, the French advertising group's Chief Executive, Maurice Levy, told reporters in a briefing late Wednesday.

"If Razorfish were for sale, we would look at it...it is one of those companies that would be nice to have," Levy said, adding that at this point he wasn't aware that it was for sale.

According to press reports, Microsoft is looking to sell Razorfish. Publicis, along with WPP PLC (WPP.LN), Omnicom Group Inc. (OMC) and others, is said to be interested in the agency.

For an ad holding company, Razorfish is one of the last remaining major digital agencies up for grabs and could provide a way to boost digital revenue, a key focus for the industry as other traditional advertising, such as print and TV, stagger.

Razorfish has 2,000 employees and generated about $400 million in revenue in 2008.

"We have the cash...we can look at [acquisition] opportunities," Levy said. "But it's not a must-have and we won't do something stupid."

The Paris-based group Thursday said it had EUR3.5 billion in liquidity at the end of June. In June, the company placed OCEANE convertible bonds for a total of EUR719 million, a move that raised speculation it could be preparing for an acquisition spree.

In late June, Levy told Dow Jones Newswires that he had a "big appetite" for acquisitions and that he would seize large acquisition opportunities in digital and emerging markets if the company found the right target.

Company Web site: www.publicisgroupe.com

-By Ruth Bender, Dow Jones Newswires; +33 1 40 17 17 40; ruth.bender@dowjones.com