Omnicom CEO sees no major disposals in merger
PARIS (Reuters) - Omnicom Chief Executive John Wren said he did not expect the combined Publicis Omnicom Group to have to make major disposals as part of their merger.
"No significant divestitures" are planned, Wren said on a conference call on Monday.
Asked about mergers normally resulting in the loss of 8-10 percent of combined revenue due to client conflicts, Wren said: "We're not unrealistic about this, but if we have losses it'd probably be closer to 1 percent than what you suggested."
(Reporting by Sruthi Ramakrishnan; Editing by James Regan)
- Wells Fargo & Co, the fourth-largest U.S. bank, reported a 39 percent drop in mortgage revenue for the second quarter as lending volume dropped, underscoring the urgency for the bank to find other sources of income growth. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.