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Publicis to Spend 700 Million Euros on Acquisitions in 2011

Publicis Groupe SA will probably spend more on acquisitions this year than initially planned as the owner of the Leo Burnett and Saatchi & Saatchi advertising agencies is expanding in emerging and digital markets.

The company may spend about 700 million euros ($993 million), compared with a previous target of 400 million to 500 million euros, Chief Executive Officer Maurice Levy said in an interview in Cannes today. Paris-based Publicis could spend even more if a particularly compelling deal comes along, he said.