Advertising giants Omnicon and Publicis abandon USD 35 bln merger

Advertising rivals Omnicom Group Inc. and Publicis Groupe SA called off the USD 35 billion merger due to "difficulties in completing the transaction within a reasonable timeframe,” according to a statement of the two companies. The mega-merger would have created the biggest advertising group in the world, and would have also been reflected on the Romanian market, where both companies have subsidiaries. The merger was announced in July last year. In a joint statement, Maurice Levy, Chairman and Chief Executive Officer of Publicis Groupe, and John Wren, President and Chief Executive Officer of Omnicom Group, stated: "The challenges that still remained to be overcome, in addition to the slow pace of progress, created a level of uncertainty detrimental to the interests of both groups and their employees, clients and shareholders. We have thus jointly decided to proceed along our independent paths”. Publicis Groupe is present in 108 countries, employing more than 62,000 people. It bought Publicis Romania in 2012, which had been created by Teddy C. Dumitrescu in 1994, and which was affiliated ton Publicis Worldwide in 1995.The company’s brands Leo Burnett, Publicis, Saatchi & Saatchi, ZenithOptimedia, are also present in Romania. Omnicom Media Group Romania is made of OMD, PHD Romania, BBDO. Irina Popescu, irina.popescu@romania-insider.com