Romania’s competition authority fines French group Publicis for failing to notify local takeover

Romania’s Competition Council fined French advertising group Publicis for failing to notify the takeover of local media buying agency Zenith Media Communications, in 2013. The fine is EUR 170,000, according to a statement by the Competition Council. “Any economic concentration operation (merger, acquisition) in which the cumulated turnover of the companies involved is over EUR 10 million and when at least two of the companies have made more than EUR 4 million in turnover, in Romania, must be notified to the competition authority before being completed,” reads the Competition Council’s statement. Publicis bought 80% of Zenith Media Communications in 2013 but didn’t inform the Competition Council. The law states that the buyer can’t make any decisions for the purchased company that may influence its activity before getting the competition authority’s approval. Publicis Groupe is one of the biggest marketing and communications groups in the world. Publicis is present in Romania with three advertising agencies, Publicis Romania, Leo Burnett, and Saatchi & Saatchi + the Geeks, and with two media buying agencies Starcom MediaVest Group and Zenith Media Communications. Zenith Media Communications is one of the biggest media buying agencies in Romania. In 2015, it had a turnover of EUR 25 million, up from EUR 16 million in 2014, according to official data from the Finance Ministry. Starcom MediaVest Group had EUR 8.4 million revenues in 2014. The company didn’t release its financial results for 2015. Publicis Groupe Romania hasn’t published its financial results in recent years. Radu Florescu’s Saatchi&Saatchi Romania ends partnership with Publicis, to change name in January editor@romania-insider.com