We have closely been watching the Ogilvy/Wachovia/Citibank fall out. What will happen to Ogilvy's big win?

Mary Beth Navarro, SVP, Corporate Communications for Wachovia has sent us this statement in regards to the future of Ogilvy and the bank's business:

"In light of today's announcement, Wachovia has paused the finalization of our agreement with Ogilvy. We will work closely with our Ogilvy partners and our future colleagues at Citigroup to determine the best way to support our brands and our businesses going forward.

To all of Ogilvy's creatives, damn we're sorry. Matt is totally prepared to buy you a beer.

More: Citibank To Buy Wachovia? Ogilvy, Brace Thy Self.