WPP: Ogilvy & Matter Buys Minority Stake in Communication Group AS

Date : 06/18/2012 @ 5:25AM
Source : Dow Jones News
Stock : WPP PLC (WPP)
Quote : 94.51  0.49 (0.52%) @ 3:59PM

WPP: Ogilvy & Matter Buys Minority Stake in Communication Group AS

WPP (LSE:WPP)
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LONDON--Advertising firm WPP PLC (WPP.LN) said Monday its wholly-owned operating company Ogilvy & Mather has acquired a minority stake in Communication Group, A.S., the holding company for the Istropolitana group of companies, in the Slovak Republic for an undisclosed sum.

MAIN FACTS:

-Istropolitana is a full service advertising agency comprising a number of separate businesses.

-Istropolitana's consolidated unaudited revenue for the year ended Dec. 31, 2011 was 4.509 million euros, with gross assets of EUR3.672 million.

-WPP shares at 0850 GMT up 4 pence, or 0.47%, at 750.5 pence valuing the company at 9.41 billion pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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