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China: Publicis, Omnicom anticipate merger ruling soon

 |  January 26, 2014

Advertising giants Publicis and Omnicom said they are expecting clearance for their proposed $35 billion merger by Chinese regulators shortly despite waiting longer than expected for approval.

Reports say Publicis CEO Maurice Levy addressed the issue at the ongoing World Economic Forum last week, confirming that “it has taken loner than anticipated” for Chinese authorities to sign-off on the deal, which has already been approved by the EU, US and other jurisdictions. Levy said he does not, however, expect competition issues.

The French and US companies plan to merge and create the world’s largest advertising company, a deal that would push current top rival WPP into second-place. The deal was first announced last July.

Full Content: International Business Times

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