WPP Ups Stake in Chime

Marcoms giant WPP has increased its stake in Chime Communications to 17.17%, with the acquisition of around 13.9m shares at £0.25 each, or nearly £3.5m.

Chime comprises three divisions, 38 agencies and 1,000 people. Its Research & Engagement division includes Opinion Leader, Facts International, acefieldwork, CaucusWorld, Naked Eye, Brand Democracy and Tree, and was said last month by Chairman Lord Bell to be continuing its recovery with a half year revenue increase from £4.7m to £5.7m.

WPP is represented on Chime's Board of Directors by its Group Finance Director Paul Richardson (pictured), and has in the past been touted by analysts as a possible buyer for the group. Earlier this year, Chime sold its remaining 51% stake in ad agency HHCL United to WPP for an initial payment of £2.75m.

Web sites: www.wpp.com and www.chime.plc.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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