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 18,000 in two advertising networks. The transaction will be carried out by share swap on the basis of 500 pence per SAATCHI & SAATCHI shared, and EUR 480 per PUBLICIS share. See EI of 21 June.