WPP to set up JV in Vietnam
Martin Sorrell's advertising and media giant WPP is looking to launch a joint venture (JV) in Vietnam, expanding in one of the fastest growing markets in the world.
Martin Sorrell's advertising and media giant WPP is looking to launch a joint venture (JV) in Vietnam, expanding in one of the fastest growing markets in the world.
Burson-Marsteller, WPP's public relations and public affairs division, is to take a majority stake in the JV with local partner Chu Thi Company, the creator of Vietnam's first ever daily talk shows airing on official government national television channels.
"This investment continues WPP's strategy of developing its networks in fast growing markets and sectors," the statement said.
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
Goldman Sachs has identified Vietnam as one of the next 11 economies to watch, with a population of 87m and a gross domestic product growth rate of 5.9%. WPP has been operational in the country for over a decade.
The JV is still subject to regulatory approval, the group said.
Shares in WPP have been performing strongly as of late, hitting a new 52-week high on Tuesday at 835p, some 8% higher than they were a year ago.
BC
-
Taiwan Semiconductor shares jump on AI outlookTSMC, Nvidia’s key supplier, has beaten on earnings and poured cold water on talk of an AI bubble
-
Zoopla: Number of homes on sale at eight-year peak – but demand lagging behind 2025The average number of homes listed for sale per estate agent at the start of the year breached 30, property portal Zoopla said
