Omnicom says IPG-related divestments near 60% complete
CFO Phil Angelastro puts the post-IPG asset sales close to 60% done, per AdNews — a signal of which units the largest holding company plans to keep.
AdNews reports Omnicom is well advanced in the asset divestments it planned after acquiring IPG, shedding businesses the company considers surplus in an effort to improve organic growth. CFO Phil Angelastro said close to 60% of the programme is complete, according to the report. The scope of the remaining sales has not been detailed publicly, so which specific units are still on the block remains unconfirmed. Agencies and clients tracking account and talent movement have been watching the divestment list for signals on where those shifts may land.