Advertisement
Singapore markets close in 5 hours 29 minutes

  • Straits Times Index

    3,190.13
    +35.44 (+1.12%)
     

  • Nikkei

    38,090.87
    +129.07 (+0.34%)
     

  • Hang Seng

    16,461.38
    +209.54 (+1.29%)
     

  • FTSE 100

    7,847.99
    +27.63 (+0.35%)
     

  • Bitcoin USD

    61,947.25
    -2,088.55 (-3.26%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • S&P 500

    5,022.21
    -29.20 (-0.58%)
     

  • Dow

    37,753.31
    -45.66 (-0.12%)
     

  • Nasdaq

    15,683.37
    -181.88 (-1.15%)
     

  • Gold

    2,388.40
    0.00 (0.00%)
     

  • Crude Oil

    82.80
    +0.11 (+0.13%)
     

  • 10-Yr Bond

    4.5850
    -0.0740 (-1.59%)
     

  • FTSE Bursa Malaysia

    1,540.10
    -0.32 (-0.02%)
     

  • Jakarta Composite Index

    7,150.29
    +19.45 (+0.27%)
     

  • PSE Index

    6,539.06
    +89.02 (+1.38%)
     

Publicis CEO says Omnicom merger flop to cost 40-50 million euros

Reuters

PARIS (Reuters) - Publicis (PUBP.PA) CEO Maurice Levy said on Wednesday that the failure of an advertising industry merger with U.S. group Omnicom (OMC.N) would cost his company 40-50 million euros (32.07- 40.09 million pounds).

"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 (20.62 billion pounds) 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)