Food and drinks giant Nestlé has completely denied recent speculation that it intends to realign its global agency arrangements [WAMN: 03-Jul-01].

The Switzerland-headquartered group described reports of a global review as "ludicrous", "totally unwarranted", "incorrect and incomplete," adding: “Reviews go on all the time on a run-of-a-mill basis.”

Nestlé, which spent $325 million last year on advertising in the US and $1.58 billion in the rest of the world, currently splits its ad assignments between Publicis, J Walter Thompson, Lowe Lintas & Partners Worldwide, McCann-Erickson Worldwide and Dentsu.

However, speculation continues that the group is shortly to make a statement regarding changes in its ad arrangements.

News source: AdAge Global