Publicis boss Levy admits Aegis would be 'a good fit'

by Staff, Brand Republic 27-Sep-05, 11:00

NEW YORK - Publicis chief executive Maurice Levy has shed further light on his firm's interest in media planning company Aegis, admitting that the potential acquisition would be a good fit with its operations.

Although keen to stress that no formal offer has been made, he reiterated that preliminary talks had taken place and that Aegis "is something which would fit quite well", according to Reuters.

Speaking at Advertising Week 2005 in New York, Levy said: "It is something which would fit quite well. We are just in very preliminary conversations. It is very soon... I have made no offer."

Since news broke of a bid for Aegis last week, its share price has rocketed, although it has since settled back to around the 140p mark.

The acquisition of Aegis by Publicis would allow it to challenge WPP, which owns MindShare, Mediaedge:cia and MediaCom, as well as Omnicom, which owns OMD and the soon-to-be-expanded PHD.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.