Publicis Groupe Said To Consider Buying A Controlling Stake In Cheil Worldwide

imagePublicis Groupe is considering a bid for a controlling stake in Cheil Worldwide, according to a report by Bloomberg earlier today.

The reported cited unidentified “people with knowledge of the matter.” According to the report, Publicis is weighing the possible purchase of a 30% stake in the firm, which would give it control and make it the largest single shareholder in the South Korea-based agency holding company.

Cheil was initially founded as the in-house agency of telecom and electronics giant Samsung, which still owns about 25% of the firm. According to Bloomberg, Cheil now has a market value of $1.9 billion.

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