Tuesday, 10 July 2018

Sir Martin Sorrell beats WPP in takeover battle

Sir Martin Sorrell has seen off competition from WPP, the firm he ran for three decades, with the first acquisition for his new rival venture.

S4 Capital is buying Dutch digital production company MediaMonks for about €300m (£266m).

Earlier this month, WPP threatened to take away share awards worth about £20m from its former chief executive over his rival bid for MediaMonks.

Sir Martin resigned as WPP chief executive in April.

He left the world's biggest advertising firm amid claims of misconduct, which he has denied.
The findings of an internal investigation into the allegations have not been disclosed because WPP said doing so would breach data protection rules.

Soon after leaving Sir Martin set up his new advertising venture, which he has pledged to build into a "multinational communication services business".

BBC       News.

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