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China: Publicis says Omnicom merger clearance approaching

 |  March 26, 2014

France-based advertising giant Publicis said the company expects Chinese competition authorities to approve of its merger with US rival Omnicom in only a matter of weeks.

While various other jurisdictions, including the US and EU, have cleared the $35 billion deal, earning clearance from China has been taking longer than the parties expected.

But at a conference this week, Publicis said merger clearance is “a matter of weeks” away. Company Chief Executive Maurice Levy did acknowledge, however, that the companies were “expecting to get the Chinese [approval] prior to new year but is taking a bit longer.”

Full Content: Market Watch

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