28 July 2013 - 12:14pm | posted by | 1 comment

Havas CEO David Jones speaks of surprise at reported Omnicom-Publicis merger as speculation grows

Merger: Havas CEO David Jones spoke of his surpriseMerger: Havas CEO David Jones spoke of his surprise

Havas CEO David Jones has spoken out on news of a possible merger between Publicis and Omnicom, describing any deal as “massively interesting and surprising” and questioning whether it would be in the best interests of the agencies’ clients.

The two agencies have yet to confirm speculation around a merger but an announcement is expected on Sunday afternoon.

Jones said in a statement: “I’m not sure this is in the best interests of their clients or their talent. Clients today want us to be faster, more agile, more nimble and more entrepreneurial, not bigger and more bureaucratic and more complex.

“It’s a massively interesting and surprising move. The industry’s obsession with mergers and acquisitions still amazes me, particularly in a world where digital and technology have made scale irrelevant.”

Reports from Bloomberg over the weekend cited an unidentified source revealing merger talks were in late stages.

Both companies have reported healthy financial statements and analysis suggests the merger will allow them to overtake WPP in size while clearing the path to allow company CEOs Maurice Levy and John Wren to retire.

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Comments

28 Jul 2013 - 13:47
ribking
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Focus on creative and account service have moved to the [very] back row. The bright spot is that we may see more agency start–ups with three names on the walls.

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