17th Mar 2025 10:36
(Alliance News) - London-based advertising agency WPP PLC has lost a US contract with soft drinks maker Coca-Cola Co to Paris-based rival Publicis Groupe SA, the Financial Times reported on Friday.
Publicis has won the media buying and planning contract for Coke in the US and Canada following a competitive tender, the newspaper reported, citing "three people familiar with the deal". The contract represented USD800 million per annum in overall spending by Coke, they said.
WPP will remain Coca-Cola's global marketing partner, including for media buying and planning, elsewhere in the world, the FT said, adding that WPP and Publicis declined to comment.
WPP shares were up 0.2% to 617.40 pence on Monday morning, but they lost 1.6% on Friday. Publicis shares were up 0.8% to EUR92.10 in Paris on Monday, having gained 1.0% on Friday.
By Tom Waite, Alliance News editor
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