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BOSTON Publicis Groupe said it would apply for the voluntary delisting of its American Depositary Receipts from the New York Stock Exchange.
The holding company cited as its rationales low ADR trading volume (about 1 percent of its total share volume); its adoption of International Financial Reporting Standards (IFRS) in 2005; and a general desire to cut costs.
Paris-based Publicis said it would file its delisting application with the Securities & Exchange Commission on Sept. 17, and that the delisting would become effective on Sept.
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