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

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021