Clemmow Hornby Inge is understood to have pulled out of talks with Havas about the French holding company taking a minority stake in the London-based agency.
The talks, led by Havas' Fernando Rodes and CHI's Johnny Hornby, have been ongoing for almost a year. CHI's reason for pulling out of the deal have yet to emerge, though sources close to the agency suggest it might be in talks with rival holding companies.
Earlier this year, the agency was in talks with Dentsu.
More news to follow.
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