Knight Bridge Investment Consultants Limited – Alibaba and Tencent Look to Take Stake in WPP China

HONG KONG - July 24, 2018 - PRLog -- Knight Bridge's purpose is to provide access to alternative investment strategies for clients seeking to achieve a diverse and profitable portfolio. Today's asset allocation landscape is more than just equities and bonds. Our goal is to keep our clients fully informed as to the different alternatives available in today's climate, maximizing returns and allocating investment products for long-term results that support clients' retention for their investment cycle.

Chinese conglomerates Alibaba and Tencent are involved in talks to buy a minority stake in advertising giant WPP's Chinese unit, Sky News reported on Saturday, citing unidentified sources.

Sky News said the firms, along with China Media Capital Holdings (CMC), were in early-stage discussions about buying roughly 20 percent of WPP China in a deal that would value the business between $2 billion and $2.5 billion.

A spokesman for WPP declined to comment.

WPP, the world's biggest advertising group, is in the midst of a leadership change.

Founder Martin Sorrell left in April following a complaint of personal misconduct. Executive Chairman Roberto Quarta said last month that the search for Sorrell's replacement was well-advanced.

The China deal, which could take several months to conclude, would see WPP pool its Chinese agency operations into a new holding company and retain majority ownership and control, Sky News said.

The report said the deal had been brewing since before Sorrell left, and that Quarta went with co-chief operating officer Andrew Scott to China this month to continue talks.

This news comes after Alibaba announced its intention to take a stake in Focus Media last week. The moves show a consolidated effort to increase their exposure to the digital media space for 2018 and beyond.

Knight Bridge Investment Consultants Limited believes that the move by Alibaba specifically is a major play to increase its brand within the digital media sector which fits perfectly inline with their other online businesses. To find out how you can get involved in this market, visit www.knightbridgeinvestment.com or contact us at info@knightbridgeinvestment.com for further information.