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Omnicom, Publicis scrap merger plans

: Saturday, May 10 - 2014 @ 11:25

US-based Omnicom Group Inc. and French rival Publicis Groupe have decided to call off their proposed $35bn merger, as the challenges in forming the world’s largest advertising agency proved too immense for the partners, Reuters has reported. “There was no one factor,” Omnicom chief executive, John Wren, told the news service. “There are a lot of complex issues we haven’t resolved. There are strong corporate cultures in both companies that delayed us for reaching an agreement. There was no clear finish line in sight and uncertainty is never a good thing when you are in the personal service business.”

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Saturday, May 10- 2014 @ 11:25 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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