Media giant WPP has entered into an agreement to buy a stake in Myanmar-based advertising agency, Today Advertising.
The company, based in Yangon, employs 60 people, and WPP's investment continues its strategy of "developing its services in fast-growing and important markets and sectors," the group said today.
With this acquisition, the number of countries in which WPP operates has increased to 108. The firm, led by frontman Sir Martin Sorrell, did not disclose the size of the stake, or any financial details associated with it.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Today Advertising will be incorporated into WPP's Asia Pacific region division, which generates a quarter of the group's revenues per annum and employs around 42,000 people.
BC
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
