Market Chatter: WPP Wins $2.7 Billion UK Government Advertising Contract

MT Newswires Live12-10

WPP (WPP) secured a UK government advertising contract worth up to 2 billion pounds ($2.66 billion) over four years, winning a tender for work previously handled by rival Omnicom Group (OMC), The Times reported Tuesday.

WPP-owned Wavemaker will handle planning and media buying for hundreds of UK government campaigns, spanning public safety, blood donation, military recruitment, and the Great Britain & Northern Ireland promotional initiative, the report said.

WPP did not immediately respond to a request for comment from MT Newswires.

WPP shares rose 6.6% in recent Tuesday trading, and Omnicom eased 0.2%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 21.16, Change: +1.30, Percent Change: +6.55

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