However, it is believed that Freud is likely to rule out the move.
Publicis has been without a chief executive since Grant Duncan left in April following a string of account losses.
Freuds bought advertising agency DFGW in May. The deal meant that Freuds could extend its services to include advertising, film and entertainment.
Freud sold 50.1 per cent of his agency to Publicis in June last year. Freud is thought to have made £12m from the sale and kept 37 per cent of the remaining shares
Freud told PRWeek that he would not be leaving the PR agency.