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Two of the world's biggest advertising groups are joining forces to create a $35bn (£23bn) giant responsible for promoting brands including Adidas, Guinness, Starbucks and Doritos.
The merger of US based Omnicom and French firm Publicis will combine marketing and advertising agencies including Saatchi & Saatchi, in the world's biggest advertising group
It will be called Publicis Omnicom and employ more than 130,000 staff based in New York and Paris
The deal has been backed by both boards, and will lead to cost cuts of 500 million US dollars (£325 million).
US company Omnicom and French firm Publicis say they are combining in a "merger of equals" that will create the world's largest advertising firm with a value of more than $30 billion (£20bn).
The combined company will be called Publicis Omnicom Group and be jointly led by Omnicom CEO John Wren and Publicis CEO Maurice Levy as co-chief executives.