WPP says buys majority stake in Indian advertiser

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British marketing company WPP said Wednesday that its wholly-owned operating company JWT had agreed to buy a majority stake in Indian advertiser Mindset for an undisclosed sum.

"This investment continues WPP's strategy of developing its networks in fast-growing and important markets and sectors. India... remains one of the fastest growth markets for the group," WPP said in a statement.

Founded in 1998 and based in Hyderabad, southern India, Mindset employs 44 people.

© 2011 AFP

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