Is Publicis looking to buy stake in Cheil?
After acquiring Sapient in 2014, Publicis Groupe is now rumoured to consider buying a stake in the Korean agency Cheil Worldwide. Bloomberg reported that the deliberations are at an early stage and the holding company is considering the buy 30 per cent stake in Samsung Group’s advertising agency.
If the deal goes through, this would make Publicis the single largest shareholder in the Korean agency. The report by Bloomberg also highlighted that the French company would want to keep the deal such that Cheil would continue to be Samsung’s advertising agency.
Recently, Publicis Groupe had shuffled its management structure in a bid to break down silos across agency holdings.
“Businesses all over the world, no matter their industry, are continuously faced with the upheavals brought on by digital and the constant evolutions affecting our society, the way we work, communicate and consume. In order to better advise and serve its clients, Publicis Groupe has decided to radically modify its business model by putting the client at the heart of its organisation,” the company said in a statement in December 2015.
For a more effective organisational structure across countries, the company will manage its offices around 20 countries under a dedicated entity, which will be led by Jarek Ziebinski, Chief Executive Officer. In the Publicis ONE countries, all entities will be reunited under one roof and one management team.
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