LONDON--Advertising giant WPP PLC (WPP.LN) said Monday it has
agreed to take an 80% majority stake in the WVI Group of companies
for an undisclosed sum, adding that an agreement has also been
reached to buy the remaining 20% stake in 2016.
MAIN FACTS:
-The WVI Group is a joint venture holding company for a number
of WPP brands in Russia, including media investment management
businesses Maxus, MEC, MediaCom, Mindshare, GroupM and the global
marketing communications company JWT.
-Deal is subject to regulatory approval.
-Shares at 0930 GMT up 2 pence, or 0.15%, at 1366 pence valuing
the company at 18.39 billion pounds.
-Write to Ian Walker at ian.walker@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires