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WPP buys German firm Commarco
WPP yesterday agreed to buy German marketing company Commarco from private equity firm Cognetas for an undisclosed sum. A source close to the matter said the price was about €150m (£132m). Chief executive Martin Sorrell said Germany, along with Poland and Russia, is showing signs of strength. The advertising agency group says it is sticking to its forecast for five per cent sales growth despite uncertainty in Japan. Rothschild advised Cognetas – which is also selling auto parts maker KSM Castings and pond equipment firm Oase – on the sale of Commarco.