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Major ad merger collapses

Publicis and Omnicom, two of the world's biggest advertising firms, have scrapped their planned merger.

Publicis and Omnicom, two of the world's biggest advertising firms, have scrapped their planned merger.

The merger, announced last year, would have created the world's biggest ad firm worth $35.1bn (£22.8bn).

The firms said they called off the deal as there were challenges that "remained to be overcome" and the slow pace of progress was creating uncertainty that would be "detrimental" to both of them.

Jamie Robertson reports.