1st Dec 2006 07:01
WPP Group PLC01 December 2006 FOR IMMEDIATE RELEASE 1 December 2006 WPP GROUP PLC ("WPP") Ogilvy & Mather acquires 49% stake in Raynet in China WPP announces that its wholly-owned operating company Ogilvy & Mather Worldwide,the leading advertising and marketing communications network, has acquired,subject to regulatory approval, 49% of the share capital of Beijing RaynetAdvertising Co., Ltd. ("Raynet"), an advertising firm in the People's Republicof China. Founded in 2001 with offices in Beijing, Shenyang and Changchun, Raynet employs131 people. Raynet had unaudited revenues of RMB 37.2m for the year ended 31December 2005, with gross assets as at the same date of RMB 70.1m. Clientsinclude China Netcom, Liaoning Mobile, Liaoning Netcom, Mengniu Dairy andShanghai Xinjiegou. This acquisition continues WPP's strategy of expanding its networks infast-growing and important markets, and its regional strategy in Mainland China.Greater China is one of the fastest-growing markets for WPP, providing thecompany with the highest amount of revenues from this region amongst itscompetitors. Consequently, the Group, which employs 7,500 professionals inGreater China, has a strong relative position in the region - as it does in Asiaoverall - across all advertising and marketing disciplines. Contact:Feona McEwan, WPP T. 44 (0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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