The Publicis and Omnicom chief executives heralded the proposed operation as a "merger of equals" saying that Publicis and Omnicom shareholders will collectively each hold about 50 percent of the new group's equity [REF].
Some commentators have expressed concern, with Craig Le Grice of The Drum saying that it will be "creating a sector essentially owned by two holding companies",[REF] but not all industry observers are equally worried [REF].