By Adriano Marchese

WPP PLC (WPP.LN) said Monday that it has sold its shares in Chime Group Holdings Ltd. for 54.4 million pounds ($69.0 million).

The British advertising and public relations company said it has sold its minority shareholding to the majority shareholder Providence, and that there is potential to receive more funds based on the future value of Chime.

The company said that the disposal is in line with its new strategy of focusing on the main areas of its business and simplifying its operations by disposing noncore assets.

Write to Adriano Marchese at adriano.marchese@dowjones.com

(END) Dow Jones Newswires

July 01, 2019 03:26 ET (07:26 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
WPP (NYSE:WPP)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more WPP Charts.
WPP (NYSE:WPP)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more WPP Charts.