Publicis CEO says Omnicom merger flop to cost 40-50 mln euros
PARIS, June 25
PARIS, June 25 (Reuters) - Publicis CEO Maurice Levy said on Wednesday that the failure of an advertising industry merger with U.S. group Omnicom would cost his company 40-50 million euros.
"There will in effect by a financial cost and it's between 40 and 50 million euros," Levy, speaking to BFM Business TV, said of the decision announced in May to abandon a 35-billion -dollar alliance between Publicis and Omnicom, respectively the world's third- and second-largest advertising groups. (Reporting by Gwenaelle Barzic; Editing by Brian Love and Mark John)