British advertising giant WPP Group has formally announced that it has held discussions with US rival Young & Rubicam which could lead to an agreement between the two companies (see WPP Reports Strong First Quarter Revenues).
A merger deal would create the world’s biggest advertising agency which would have some of the world’s leading brands including Ford and Citibank. However, Y&R is understood to have been seeking alternatives to WPP’s approach, which is described by the latter as ‘friendly’. The Financial Times today reported that Y&R has held discussions with French group Publicis.
WPP: 020 7408 2204
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