The Commission said in a statement that the combined strength of Y&R and the WPP Group accounts for less than 30% of the European market for advertising services, and on average less than 15% of the media buying markets in each EU country.
"The combined entity will have to compete against numerous agencies in all the European markets," the Commission said.
WPP and Y&R signed the takeover deal on May 11.
The European Commission examines all large concentrations that trade inside the EU. This deal was cleared after a routine one month examination. No in-depth investigation was deemed necessary.
Copyright August 2000, Crain Communications Inc.