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Continuing a year of expansion on many fronts, WPP Group plans to merge its holdings in Australia and New Zealand with longtime regional partner STW Communications and increase its stake in the company from about 25 percent to 61.5 percent.
The combined operation would generate annual revenue approaching $800 million and employ more than 5,000 people across 75 companies.
STW CEO Mike Connaghan told The Sydney Morning Herald, "Bringing the two together, to me, always made a lot of sense, it was just making sure we could get a sensible deal done.
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