WPP Group PLC
28 September 2004
FOR IMMEDIATE RELEASE 28 September 2004
WPP GROUP PLC ("WPP")
Mediaedge:cia acquires 49% stake in Focus Media SL in Spain
WPP announces that its wholly-owned operating company, Mediaedge:cia ("MEC"),
has acquired an initial 49% stake in the share capital of Focus Media SL
("Focus"), a leading media investment management agency in Spain. MEC will
acquire a further 31% stake in September 2005.
Founded in 2002 and based in Barcelona, Focus employs 30 people and had net
revenues of Euro 4.5 million for the year ended 31 December 2003 and net assets
as at the same date of Euro 1.2 million. Clients include Festina Lotus, Ferrero
Iberica, Myrurgia and Grupo Planeta.
This acquisition reinforces WPP's comprehensive communications services offer
and continues WPP's strategy of developing its networks in important markets and
sectors.
For further information please contact:
Feona McEwan, WPP 44-20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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