1030 GMT - WPP could benefit initially from a potential deal between U.S. rivals Omnicom Group and Interpublic Group, AJ Bell's Dan Coatsworth says in a market comment. A tie-up would involve cost-cutting as the first course of action and this could allow London-based WPP to try and poach some clients while its enlarged rival's managers focus on the deal integration, the analyst says. However, a merger would aid the enlarged Omnicom-Interpublic in account pitches, he says. "Investors in WPP seemed to shrug off the prospect of two archrivals coming together and creating a force to be reckoned with," Coatsworth says. WPP shares rise 2.3% after The Wall Street Journal reported that Omnicom is in advanced talks to acquire Interpublic, while French peer Publicis rises 1.2%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 05:30 ET (10:30 GMT)
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