French PUBLICIS has pushed itself up to the fifth largest advertising agency worldwide by acquiring, through a share swap, the British agency SAATCHI & SAATCHI for the sum of EUR 2 billion. The new group, called PUBLICIS GROUP SA, held at 70% by PUBLICIS shareholders and at 30% by SAATCHI & SAATCHI shareholders, will have a gross margin (a figure that measures advertising activity the best) of EUR 1.7 billion on the basis of 1999 pro-forma figures, and EUR 2.1 billion in 2000. It will employ...