LONDON--WPP PLC's (WPP.LN) global media investment arm GroupM said Tuesday it agreed to increase its holding in MediaCom India to become a majority stakeholder.

WPP shares at 1220 GMT up 9 pence, or 0.5%, at GBP18.52, valuing the company at GBP23.72 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

January 24, 2017 07:34 ET (12:34 GMT)

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