WPP Group PLC
11 September 2006
FOR IMMEDIATE RELEASE 11 September 2006
WPP GROUP PLC ("WPP")
Ogilvy increases shareholding in China joint venture
WPP announces that its operating company Ogilvy & Mather Worldwide, the leading
advertising and marketing communications network, has renewed its joint venture
agreement with Shanghai Advertising Limited in respect of Shanghai Ogilvy &
Mather Advertising Limited for a further 15 years and increased its majority
ownership in the joint venture from 51% to 75%.
Shanghai Ogilvy & Mather Advertising Limited, which has full service offices in
Beijing, Guangzhou, Shanghai, Fuzhou and Xiamen reported revenues of CNY 250
million for the year ended 31 December 2005 and had gross assets of CNY 807
million as at that date. Multinational clients include IBM, Motorola and BP and
Chinese clients include Lenovo, China Mobile and Great Wall Wine.
This increased investment confirms Ogilvy's commitment to the China market and
continues WPP's strategy of expanding its networks in fast-growing and important
markets, and its regional strategy in Mainland China. Greater China is one of
the fastest-growing markets for WPP, providing the company with the highest
amount of revenues from this region amongst its competitors. Consequently, the
Group which employs 6,700 professionals in Greater China, has a strong
leadership position in the region - as it does in Asia overall - across all
advertising and marketing disciplines.
Contact:
Feona McEwan, WPP London
T. +44-20 7408 2204
www.wpp.com.
This information is provided by RNS
The company news service from the London Stock Exchange
DCK
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