WPP Group PLC
19 June 2007
FOR IMMEDIATE RELEASE 19 June 2007
WPP GROUP PLC ("WPP")
GroupM acquires out of home specialist agency, Interactive TV, in India
WPP announces that its wholly-owned operating company GroupM has agreed to
acquire, subject to regulatory approval, a majority stake in Interactive
Television Private Limited ("Interactive TV"), a leading Indian out of home
marketing agency specialising in cinema advertising and marketing in
multiplexes, malls and shopping chains.
Founded in 1996, Interactive TV employs 49 people and is based in New Delhi,
with offices in Chennai, Kolkata, Bangalore and Hyderabad. Clients include
Maruti, Microsoft, Coca-Cola, ITC and Bharti Airtel.
Interactive TV's revenues for the year ended 31 March 2006 were INR 45.75
million, with gross assets at the same date of INR 115.90 million.
This investment continues WPP's strategy of developing its networks in fast
growing markets and sectors.
Contact:
Feona McEwan T. +44 (0)20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.