EU clears $35 bln Omnicom, Publicis merger

BRUSSELS Thu Jan 9, 2014 9:20am EST

BRUSSELS Jan 9 (Reuters) - EU antitrust regulators said on Thursday they had cleared the $35 billion merger of U.S. advertising agency Omnicom and French peer Publicis without conditions.

The deal would create the world's biggest advertising agency able to compete better with online rivals such as Google and Facebook. Omnicom now ranks second behind leader WPP with Publicis in third place.

"The merged entity would be sufficiently constrained by several competitors, including large international advertising groups," the European Commission said in a statement. "Should the merged entity increase its prices or decrease the quality of its services, customers would have the ability to switch."

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video