M&C Saatchi Worldwide has formed a joint venture in China with a leading independent creative agency, aeiou. The headquarters will be in Shanghai in The French Concession, the current offices of aeiou. The founders of the Chinese agency, Tony Liu and Michael Liu will head the new joint venture as Executive Creative Director and Managing Director respectively. Initially the partners of aeiou will hold a majority stake with M&C Saatchi Worldwide becoming the majority shareholder over an agreed timescale.