WPP Buys Majority Stake In South Africa's Cerebra Communications

Wed, 27th Nov 2013 09:34

LONDON (Alliance News) - Media buying giant WPP PLC Wednesday said it has bought a majority stake in South African communications agency Cerebra Communications.

It didn't provide any financial details.

Cerebra employs 35 people and its clients include Nedbank and Vodacom. Audited revenues for the year ended February 2013 were approximately ZAR17 million, with gross assets at the same date of approximately ZAR4.1 million.

WPP shares were up 1.2% at 1,363 pence Wednesday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

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