RLM Finsbury is top PR firm for European M&A activity in 2012 July 11, 2012 COMMUNICATIONS firm RLM Finsbury has topped the league table of PR advisers by deal value, according to research released yesterday. Data provider Mergermarket says the company worked on European M&A deals worth $95.6bn (£61.4bn) in the first half of 2012, more than any other PR agency. In total the firm, which is part of Sir [...]
BEST of the BROKERS July 10, 2012 SSE Investec has upped its target price to 1479p from 1226p and upgraded SSE to “buy” from “hold” following an “upbeat” capital markets day last month and prospects of improved profit growth. WPP JP Morgan Cazenove has upgraded the communications giant, to “overweight” from “neutral” as it believes management changes at its market research arm [...]
FTSE steadies after Alcoa results July 10, 2012 The FTSE 100 was flat today with aluminium giant Alcoa reporting positive results to start the US earnings season which helped steady investors’ nerves. Alcoa saw its quarterly revenue and profit beat Wall Street’s expectations even though prices for its aluminium are at nearly two-year lows. Meanwhile Eurozone finance ministers have agreed to lend Spain [...]
Vodafone pay package backed by ABI with blue top approval July 5, 2012 VODAFONE’S pay package was yesterday classed an inoffensive “blue top” by the ABI, which recommended shareholders vote in favour of the remuneration report. Vittorio Colao, chief executive of Vodafone, was paid £3m in salary, bonus and benefit payments in 2011, a year in which Vodafone dished out a hefty £10.2bn to its investors and became [...]
Kinetic boss returns to outdoor ads July 3, 2012 Former Kinetic boss Eric Newnham has returned to the out-of-home advertising business by investing in specialist agency Talon Outdoor. Newnham, who sold Kinetic to WPP in 2010 and left the firm a year later, said he was keen to work with Talon to use new technologies in outdoor ads.
WPP expands Brazilian presence July 3, 2012 WPP-owned subsidiary Ogilvy & Mather yesterday unveiled the purchase of a majority stake in Foster, a Brazilian digital agency. Ogilvy acquired 70 per cent of the 19 year old company, whose clients include Metro, Danone and Goodyear. Foster, which generated revenues of R$5m (£1.6m) last year, will contribute to WPP’s Brazil-based revenues of $800m (£510m) [...]
WPP expands in South Korea July 2, 2012 ADVERTISING giant WPP yesterday snapped up South Korean media planning agency Alchemedia for an undisclosed sum. Alchemedia has been valued at around 10bn won (£5.6m) and will be absorbed into WPP’s Korean arm GroupM. The purchase is the latest purchase in Sir Martin Sorrell’s shopping spree, following the takeover of French consultancy I&E and the [...]
FTSE up as UK manufacturing decline slows July 2, 2012 The FTSE 100 edged up this morning as new data showed that the decline in UK manufacturing slowed in June. The manufacturing PMI – a respected survey of the sector – stood at at 48.6, up from 45.9 in May and well ahead of the consensus forecast of 46.5. New orders also rose strongly to [...]
WPP boosts its empire with I&E French buy June 25, 2012 ADVERTISING giant WPP yesterday kept up its blistering acquisition-fuelled growth pace with the purchase of French firm I&E for an undisclosed sum. The communications consultancy business will become part of WPP’s wholly-owned subsidiary Burson-Marsteller. Paris-based I&E – which specialises in reputation management, brand marketing and change management – employs around 110 people. France is WPP’s [...]
Biggest deal in years for WPP as it buys digital agency stake June 20, 2012 SIR MARTIN Sorrell’s ad company WPP yesterday agreed to buy a majority stake in AKQA, one of the world’s most prestigious digital marketing agencies. In an deal that gives AKQA an enterprise value of $540m (£343m), WPP bought General Atlantic out of its 80 per cent stake and took an undisclosed amount of the 20 [...]