PUBGY - Publicis Groupe exits Russia after securing its employees

Publicis Groupe (OTCQX:PUBGY) is stopping its business and investments in Russia by transfering the ownership of its agencies to local management, effective immediately. The company is handing over control of its Russian operations to Sergey Koptev, Founding Chairman of Publicis in Russia, with the clear contractual condition of ensuring a future for employees there. Also read: Barclays downgraded the major advertising-agency holding companies - WPP, Omnicom (NYSE:OMC), Interpublic (NYSE:IPG) and Publicis Groupe (OTCQX:PUBGY) - to Equal Weight, from Overweight, pointing to difficulty for those companies to outperform the market before the macro environment improves.

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Publicis Groupe exits Russia after securing its employees