Breaking: Hill & Knowlton Buys 70% Stake of Hong Kong Agency
Asia-Pac continues to be a major growth market for PR and marketing companies. Hence today’s news:
WPP Group Plc, the world’s second- biggest advertising company, said its Hill & Knowlton public relations unit bought a 70 percent stake in Hong Kong-based Rikes Communications Ltd. Financial terms weren’t disclosed.
Rikes, which provides public relations, crisis management and investor-relations services, had sales for the year ended March 31 of HK$7.4 million ($950,000), London-based WPP said today in a Regulatory News Service statement.
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