WPP buys Chinese PR firm
WPP, the FTSE 100 communications agency, is to buy a majority stake in impactasia, an independent public relations agency with an established network of offices in Greater China.
WPP, the FTSE 100 communications agency, is to buy a majority stake in impactasia, an independent public relations agency with an established network of offices in Greater China.
Clients of impactasia already include Rolls Royce, Guinness and the Mandarin Oriental Hotel Group.
impactasia's unaudited revenues to the end 2010 were approximately HKD 23.5 million/ (£1.94m), with gross assets at the same date of approximately HKD 12.8 million (£1.06m).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The exact price paid for the controlling interest was not disclosed.
Greater China is already WPP's fourth largest market and the firm employs 13,000 people across the region.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
CrowdStrike IT outage: a global meltdown
Millions were affected by the CrowdStrike IT outage recently, which grounded flights and took the news off the air. Was this just a hiccup or a warning of much worse to come?
By Simon Wilson Published
-
Revolut finally bags a UK banking licence – what's next for the fintech?
Revolut has finally been granted a UK banking licence following three years of negotiations with the regulator
By Kalpana Fitzpatrick Published