Why Pepsi's surprise $1.7 billion Publicis deal has Madison Avenue reeling

Publicis Groupe's surprise win of PepsiCo's $1.7 billion global media, data, and tech account without a traditional pitch has stunned Madison Avenue, given the long-standing rivalry between Coca-Cola and Pepsi. Publicis handles Coca-Cola's media in North America and was competing against incumbent WPP for Coke's global business. The move has raised questions about potential conflicts and the future of the Coca-Cola account, as Publicis has reportedly withdrawn from Coke's global pitch. Industry insiders expressed shock and disbelief at the development.

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