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  5. WPP Takes Majority Stake In Mumbai-Based MediaCom India

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Share Price Information for WPP (WPP)

London Stock Exchange
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Share Price: 723.80
Bid: 723.60
Ask: 724.00
Change: -17.20 (-2.32%)
Spread: 0.40 (0.055%)
Open: 740.00
High: 740.40
Low: 722.40
Prev. Close: 741.00
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WPP Takes Majority Stake In Mumbai-Based MediaCom India

Tue, 24th Jan 2017 12:23

LONDON (Alliance News) - WPP PLC on Tuesday said it's global media investment arm GroupM has bought a further stake in MediaCom India Pvt Ltd, becoming a majority stakeholder in the media buying and planning business.

Mumbai-headquartered MediaCom employs around 170 people in India, and specialises in media buying and planning. It had revenue of around INR700 million in 2016, and assets of INR90 million as of the same date.

WPP said the acquisition continues its strategy of investing in fast growth markets, new media and digital.

Financial details of the acquisition were not disclosed.

Shares in WPP were up 0.4% at 1,852.00 pence Tuesday afternoon.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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