LONDON/PARIS: A spokeswoman for Publicis denied on Friday that the French advertising group was holding any kind of merger talks after a report by British trade publication Campaign triggered a sharp jump in its share price.
Publicis’ stock surged by as much as 7% after Campaign reported that the group had held talks with a potential private equity investor.
Traders said that had triggered the sharp gains in Publicis’ stock.
“There are no talks of any sort going on,” a spokeswoman for Publicis told Reuters.
The stock subsequently trimmed gains to 3.5% at 44.3 euros by 1429 GMT.
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