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Exclusive-India raids ad giants GroupM, Publicis, broadcasters' group over price collusion, sources say

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The Indian antitrust body has raided the offices of many global advertising giants, including GroupM, Publicis, Dentsu and Interpublic Group, and a broadcasters' industry group over alleged price collusion,
Indian authorities conducted raids on the offices of major advertising companies including GroupM, Publicis, and several broadcasters like Zee Entertainment and Sony Pictures Networks India, as well as the Indian Broadcasting and Digital Foundation (IBDF), over allegations of price collusion. The investigation, which began on Wednesday, focuses on potential violations of competition laws where these entities might have colluded to fix advertising rates, thereby stifling competition. The raids are part of a broader probe by the Competition Commission of India (CCI) into the advertising sector, following a complaint by the All India Digital Cable Federation (AIDCF) about monopolistic practices in the industry. The CCI has not yet issued a formal statement, but sources indicate that the investigation could lead to significant regulatory actions if evidence of collusion is found.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/companies/exclusive-india-raids-ad-giants-groupm-publicis-broadcasters-group-over-price-collusion-sources-say/ar-AA1B9T3Q ]