Peugeot Citröen’s £185m Dumped by Carat

13 July 2001

In a decision that propelled European advertising eyebrows into orbit, Aegis-owned media planning/buying network Carat has resigned the £185 million (E303.7m; $259.5m) PSA Peugeot Citröen business covering the UK, Germany and Belgium.

The resignation comes as Carat strengthens its ties with rival French automaker Renault, apparently no longer able to resolve the account conflict with PSA via the Chinese wall built between it and sister Aegis shop, BBJ Media. In a choice between the two auto clients, it was no contest - Aegis’s current Renault business across sixteen European markets is valued at around £360m.

PSA Peugeot Citröen, meantime, has invited four media shops to pitch – OMD, Initiative Media, Media Planning Group and Zenith/Optimedia. The pitch process will extend through August with a decision forthcoming in September.

News source: CampaignLive (UK)