Publicis Groupe expects to save up to €60 million ($58.5m; £37.8m) a year after its merger with Bcom3 Group.

Although the deal was sold to shareholders as a way to deliver better profit margins, the estimate – contained in a note to analysts – is the first time Publicis has publicly put a figure on cost savings.

However, investors may have to wait a while for these benefits to materialise. Such savings will not fully come into force until 2004, while achieving them in the first place could cost Publicis as much as €90m.

Data sourced from: BrandRepublic (UK); additional content by WARC staff