WPP Unit Seeks Approval to Acquire Ad Agency Stakes in Turkey
WPP Plc (WPP), the world’s biggest advertising agency, is seeking Turkey’s antitrust approval through one of its units to buy stakes in advertising agencies in the country.
Russell Square Holding BV, a unit of WPP, applied to the Ankara-based regulator to buy 60 percent of Manajans-Thompson Reklam Isleri AS, 3 percent of JWT Istanbul Reklam Isleri AS and 0.01 percent of Mindshare Medya Hizmetleri AS, the regulator said on its website.
Martin Sorrell, chief executive officer of Dublin-based WPP, has been acquiring digital advertising assets and companies in developing markets such as China and Brazil, offsetting slower growth in markets hit by the European debt crisis.
To contact the reporter on this story: Ercan Ersoy in Istanbul eersoy@bloomberg.net.
To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.
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