NEWS13 June 2011

WPP earmarks £200m for acquisitions, says Sorrell


INDONESIA— WPP has set aside £200m to spend on acquisitions this year, chief executive Martin Sorrell said today in an interview with Bloomberg.

The marketing services group is looking to expand in “new media” such as the internet, and in emerging markets, Sorrell said, speaking from the World Economic Forum in Jakarta.

Chairman Philip Lader recently said that small and medium-sized consumer insight companies were among WPP’s acquisition targets, although a source within the group ruled it out of bidding for Synovate, the Aegis-owned research agency that is currently in talks about being acquired by rival Ipsos.

Watch the full Sorrell interview here.