Publicis CEO says no major acquisitions in early ‘09
More news of holding company slow-downs: Publicis Groupe does not intend to make “major acquisitions in the months to come,” CEO Maurice Levy told CNBC, last week, in response to a question about the company’s strength in emerging markets.
The company is currently in negotiations for future acquisitions in markets, such as China and India, but these businesses would be “comparatively limited” and added “just to strengthen our current operations,” Levy said.
Also, Levy noted that emerging markets are still on the rise by approximately 7 or 8 % and digital is “still [in]double digit growth.” The growth in these two areas, according to Levy, will help bolster the company against the downward spiral of traditional media and “mature economies.”
This report aligns with Levy’s previously cautious predictions for difficulties in early 2009, reported by PRWeek.