0902 GMT - Shares in European advertising groups WPP and Publicis Groupe rise after The Wall Street Journal reported that Omnicom Group is in advanced talks to acquire Interpublic Group. Shares in London-based WPP are 2.6% up at 890 pence, while France's Publicis trades 1.3% higher at 105.65 euros. "Reports of a $30 billion U.S. merger between Omnicom and Interpublic read across to [WPP], whose share price has risen by 20% so far this year on improved prospects despite the overarching concerns of new big tech and AI-driven mandates," Interactive Investor's Richard Hunter says. An Omnicom-Interpublic tie-up would create the world's largest ad conglomerate and a transaction could be announced as early as this week, the Journal reported. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 04:03 ET (09:03 GMT)
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