WPP Group is continuing its expansion strategy, with J Walter Thompson purchasing a 30% stake in Chinese advertising and marketing group, Newsun Insight.
Already WPP owns dozens of companies across Asia-Pacific, including China, which has proved to be a very successful market for the group. Growth across Asia Pacific, Latin America, Africa & Middle East grew by 28.9%, during the first half of this year for WPP, compared to Continental Europe which was up by only 8.5%. (see Revenues At WPP Exceed Expectations To Reach £2 Billion).
Last week, WPP snapped up American advertising group, Grey Global for £845 million, a deal that brings it neck and neck with US-owned Omnicom for the title of the world’s largest advertising agency (see WPP Wins Battle For Grey With £845 Million Bid).