India's antitrust raids on global media giants GroupM, Publicis, Dentsu ran through the night [Yahoo! Finance]
PUBLICIS GROUP SA S/ADR (PUBGY)
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Source: Yahoo! Finance
fixing by global advertising agencies GroupM, Interpublic, Publicis and Dentsu, with raids continuing well past midnight into a second day on Wednesday, people familiar with the matter said. The Competition Commission of India (CCI) raids began early morning on Tuesday at around 10 locations in the strictest enforcement action ever against media agencies and a group of the nation's top broadcasters, just before the start of the popular IPL cricket tournament, the biggest sporting event for advertisers in India. Top officials at the Indian office of GroupM were not allowed to go home overnight and the raid was still continuing on Wednesday, with evidence from mobile phones being cloned, two people with direct knowledge said. Raids at Indian offices of U.S.-based Interpublic's IPG Mediabrands unit, Japan's Dentsu and top broadcasters industry group IBDF ended early morning on Wednesday, nearly 24 hours after they started, people familiar with the matter said. At the New Delhi IB
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