December 8, 2015 / 12:46 PM / in 2 years

France's Publicis loses P&G contracts in U.S.

(Reuters) - French advertising agency Publicis Groupe (PUBP.PA) has lost Procter & Gamble’s (P&G) (PG.N) media contracts in the United States, the company said on Tuesday, confirming media reports.

Maurice Levy, Chairman and Chief Executive Officer of Publicis Groupe, attends the company's 2013 annual results presentation in Paris, February 13, 2014. REUTERS/Gonzalo Fuentes

The contracts are worth 50 to 60 million euros, or 0.6 to 0.7 percent of the group’s revenue, the agency’s spokeswoman said.

“P&G continues to be one of our main global clients,” the spokeswoman said.

Publicis, through Starcom Mediavest Group, continues to work for P&G in Canada and 42 other countries, including China, the UK and Russia.

Publicis shares fell 2 percent on Tuesday after media reports said it had lost most of P&G’s North American contracts to Omnicom (OMC.N).

Reporting by Gwenaelle Barzic; writing by Alan Charlish; editing by Maya Nikolaeva and Jason Neely

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