When contacted Publicis Zen CEO Pravin Kenneth admitted: ``We are currently in the final stages of acquiring an agency in Delhi.'' However, Kenneth refused to comment on the name of the Delhi-based agency.

While admitting that Maadhyam was in talks with Publisis, Jayaram Easwaran, CEO of Maadhyam Advertising, said it was too early to comment on the outcome or the nature of the ultimate tie-up. Besides Publicis, ``three or four other agencies have also approached us'', he maintained, but added that it would take at least one month before a clearer picture emerged. However, industry sources indicate that a formal announcement can be expected soon.

According to Kenneth, the move has been prompted by two key reasons: ``It will help us increase in size which is crucial for growth in the Indian market besides helping us to make a foray into an entirely new market with a clutch of local clients.''

According to industry sources, the move is in line with Publicis's ambition of becoming one of the top ten agencies in the Indian advertising industry by the end of this year.

To meet its goal, Publicis Zen is expected to be on the prowl for acquiring more small-agencies in India. Says Kenneth, ``we are open to taking over agencies that fit our requirements in the near future.''

Publicis Communications currently holds a 60 per cent stake in Publicis Zen and is expected to hike its stake in the Indian subsidiary further this year.The agency's client list in India include leading international names like L'Oreal, Nestle, Siemens, Alliance Capital, HP and Whirlpool, besides locals like Apollo Tyres, United Breweries, Bombay Chemicals Kirloskar air-conditioners and Clay Station, among others.

-- With inputs from Mukta Magazine in Delhi