Advertising giants Publicis Groupe and Omnicom are still facing issues in light of their upcoming $35bn merger.
If the deal is completed, the combination of both companies would overtake WPP as the world’s largest advertising agency network.
Publicis and Omnicom have been facing problems due to disagreements over the financial terms of the deal, delaying vital paperwork with the US Securities and Exchange Commission.
Even though both companies will own 50% of the new company, one has to acquire the other for accounting reasons.
On top of financial disputes, the companies are now facing issues over who will take the position of Chief Financial Officer, according to the Wall Street Journal(WSJ).
Omnicom wants its Chief Financial Officer, Randall Weisenburger to take the position whereas Publicis wants its Chief Financial Officer, Jean-Michel Etienne to have the role.
These delays have caused both companies to hold off on roughly 70 integration committee meetings where the two groups would mutually present their networks, teams and organisations, the WSJ cited.
The companies continue to say that they expect the deal to be completed, according to the WSJ.
Laura Bracher, London
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