US and French ad agencies merge to form world's largest...

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Two of the world's largest advertising agencies, France-based Publicis Group and New York-based Omnicom, have announced a merger.

It will make them the world's biggest advertising group, worth 26.4 billion euros. Publicis and Omnicom shareholders will each hold about 50 percent of the new company's equity.

The tie-up could put pressure on rivals to do similar deals to keep pace.

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