WPP, Publicis Lifted by Report of Possible Omnicom, Interpublic Tie-Up -- Market Talk
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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
No relevant data is available