The company has said it is confident it will retain the work, which it will pitch for against Starcom MediaVest, part of the Publicis Groupe.
Michael Roth, the new chairman and CEO of Intepublic, said: "We firmly believe that we can mount a successful defence, as we did on the recent review of the GM European media buying assignment, which took place late last year."
That review saw Interpublic's Initiative retain the £97m UK account, while Universal McCann absorbed the continental business, where the German account had previously been with Carat.
Roth also sought to play down reports that GM, the second-largest advertiser in the US, accounted for more than 8% of Interpublic's revenues.
"Given the concern that the announcement of the US review has created in the financial markets, it bears mention that the revenue associated with the assignment in question represents less than 1% of our global revenue and that our financial condition and liquidity remain strong," Roth said.
The news of the GM review came only days after Interpublic revealed it would not be filing its annual results for 2004 on time, and that it had uncovered $145m in overstated revenues, relating to acquisitions made between 1996 and 2001.
However, the agency group is on a winning streak, having picked up work for Intel and Nokia this year.
Interpublic holds the GM account through General Motors Mediaworks, its dedicated buying agency for the car manufacturer, and has been invited to defend the account.
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