WPP looks to offset Brexit with western European acquisitions
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

WPP looks to offset Brexit with western European acquisitions

WPP is the world’s biggest advertising agency – but it’s based in Britain, and the company’s boss, Sir Martin Sorrell, is worried about the effects of Brexit. As a result, he’s ben looking for companies in Western Europe that WPP can buy to offset the damage. The latest of these is German agency Thjnk AG, which is based in Hamburg and employs around 400 people globally.

Sir Martin has been outspoken about his Brexit fears previously, and was a dedicated “remain” campaigner. This latest acquisition is the eighth WPP has made in region so far this year. Previous acquisitions include one in Spain, two in Ireland, two in France, one in the Netherlands, one in Norway, and one in Belgium.

Sir Martin describes this as a “practical response to Brexit,” – and hopes that these purchases will boost WPP’s profile in their respective countries before the inevitable break between Britain and the European Union. 

WPP’s CEO has gone as far as to suggest that there should be a second referendum on Britain’s membership in the EU once the terms of an exit deal are known. That’s unlikely. But in buying up European companies, Sir Martin is at least guaranteeing that WPP can remain a powerful marketing force on the continent.

Disclosure

Dominion holds WPP in its Global Trends Managed Fund.


If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

Disclaimer
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.