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Bcom3 has decided to postpone plans to take the company public this year because of volatile market conditions.
The company, which owns advertising agencies Leo Burnett, D’Arcy Masius Benton & Bowles and media company Starcom MediaVest Group, had expected an initial public offering 12 to 18 months after its formation in March 2000. As recently last month, executives said IPO plans were on track, though they cautioned that Wall Street trends would determine the timing.
“Market conditions are volatile, and the business environment has changed dramatically,” said Roger Haupt, Bcom3’s CEO.
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