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And if GroupM backs out of the P&G bid at this stage, it could result in the loss of business it handles for the consumer goods company in other markets.
Media circles have been buzzing in recent times over GroupM India Pvt. Ltd and rival Madison Communications Pvt. Ltd jointly pitching for P&G’s media business, which was up for review after seven years. This move had signaled a possible joint venture (JV) between the two companies, involving some equity sharing arrangement, said media buyers. GroupM’s pitch was made from its Mediacom Pvt. Ltd company against media specialists such as Starcom MediaVest Group and Carat Media Services India Pvt...
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