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Last Updated: Friday, 28 October 2005, 16:25 GMT 17:25 UK
WPP revenues rise as it mulls bid
WPP chief executive Sir Martin Sorrell
Sir Martin Sorrell says he needs more information from Aegis
Advertising giant WPP has reported a rise in third quarter revenue as it continues to mull over a takeover bid for UK rival Aegis.

WPP said its like-for-like revenue increased by almost 5% in the three months to 30 September.

The UK firm said it anticipated that ad spending would rise in 2006 ahead of the World Cup and Winter Olympics.

WPP is currently considering a joint bid for Aegis with US private equity firm Hellman & Friedman.

But WPP boss Sir Martin Sorrell said not enough information had been supplied by Aegis for his company to make any decision on a bid.

Separately, the UK Takeover Panel said on Friday that WPP and Hellman & Friedman must announce by noon on 25 November whether or not they intend to bid for Aegis.

Full-year lift

WPP recently lost business from US drinks giant Coca-Cola and South Korean conglomerate Samsung.

However, Sir Martin said WPP continued to hold about two thirds of the Samsung account, mostly in media buying and planning.

The world's second largest advertising company said its expected full-year like-for-like revenues to rise by 4% to 5%, excluding acquisitions and currency fluctuations.

Aegis-owned companies specialise in buying advertising space and planning marketing campaigns for their clients.

Shares in WPP closed 0.27% down at 551 pence in Friday trade on the London Stock Exchange.

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