A senior marketing executive at Hyundai Europe said a decision has been made, but stressed that no contract has been signed.
PRODUCT ADS UNAFFECTED
The assignment does not involve product advertising and does not affect existing ad agency relationships at the national level.
Bates Europe cannot handle the Hyundai account because it's pitching for Volkswagen-owned Spanish carmaker SEAT's $156 million pan-European account, and Scholz handles BMW in Germany.
Bates handles Hyundai in the U.S., and Seoul-based Diamond Ad, in which Bates holds a minority stake, handles Hyundai in its home country.
"Hyundai has not made an appointment, but is in dialogue concerning a project that involves corporate or image advertising," said Alex Sandberg, a spokesman for Cordiant.
"If CCG wins the Hyundai account, it will be handled from London by a specially formed CCG team that has been incorporated to handle corporate and image work for multinationals," Mr. Sandberg said.
The new European account is thought to be worth in excess of $20 million.
Contributing: Dagmar Mussey, Duesseldorf.