WPP WPP PLC

LONDON-- Advertising company WPP PLC (WPP.LN) said Thursday that its subsidiary Grey is to acquire a majority stake in The Volcano Group, a South African advertising and communications company, for an undisclosed fee.

MAIN FACTS:

-Volcano's unaudited consolidated revenues for the year ended May 31, 2013 were 61 million rand, with gross assets at the same date of ZAR26 million.

-Shares at 0817 GMT, down 12 pence, or 1%, at 1,231 pence valuing the company at GBP16.38 billion.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

Subscribe to WSJ: http://online.wsj.com?mod=djnwires