By Seb Joseph

Publicis Groupe has confirmed its decision to end talks to acquire Samsung’s advertising arm Cheil Worldwide.

The announcement comes after earlier reports revealed the consumer electronics giant had resumed efforts to sell off its 12.6 per cent stake in the advertising business.

The Korea Times reports that talks broke down between Samsung and Publicis over whether Cheil would handle the advertising for Samsung Group’s advertising for certain periods as a condition for the buy. Cheil apparently refused.

In a statement Publicis said: “Publicis Groupe confirms having agreed with Samsung to end the discussions regarding a possible investment alongside the proposed collaboration with Cheil Read full story ›

Source: The Drum