Grey may take over WPP

Networks The European Commission has approved the takeover of the US advertising group Grey Global Group by its British competitor WPP without any conditions. "We are delighted," says Axel Beckmann, CEO of Mediacom in Zurich. This means that the network belonging to Grey will now be incorporated into the new partnership. For Beckmann, the "expected approval of the takeover" will not have any major impact. However, he sees it as an advantage to now be part of a larger media network - in terms of purchasing, tools and process improvements. WPP already owns the media agencies Mindshare, Mediaedge CIA and Maxus. These are bundled in the Groupe M subholding. The changes at Zurich-based Mediacom will "not yet take effect immediately" in day-to-day business. This will only happen once all the arrangements have been finalized.
(pan)