WPP acquires remaining shares of three Columbian agencies

WPP's wholly-owned companies Grey, G2 Worldwide and MediaCom have acquired the outstanding shares of three Columbian agencies.

WPP's wholly-owned companies Grey, G2 Worldwide and MediaCom have acquired the outstanding shares of three Columbian agencies.

Advertising agency network Grey has purchased the remaining shares in ad business REP/Grey.

That along with digital marketing company G2 Worldwide which invested in REP/G2 and MediaCom which bought the remaining stake in media agency Massive.

"These three investments further strengthen WPP's leadership position and commitment to the Colombian communications services industry," the FTSE 100 media company said in a statement.

The group said it expects revenues of $110m collectively from its companies in Columbia which also include JWT, Ogilvy, Young & Rubicam, Wunderman, OgilvyOne, Burson-Marsteller, Live, Energy, TNS, Kantar Worldpanel, Millward Brown and IBOPE.

WPP has also invested $ 70m for a 20% stake in Buenos Aires-based Globant S.A and its wholly owned subsidiary Wunderman acquired Mexico City-based Crossmedia S.A.

The media group has forecast growth in the Latin American market ahead of the FIFA World Cup in Brazil in 2014 and the Olympics in Rio in 2016.

The company said it would collectively, including associates, have revenues over $1.6 bn and will employ more than 18,000 people in the Latin American region in 2013.

Shares fell 0.06% to 908.00p at 15:40 Wednesday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020