WPP Wins Conditional Approval from EU to Buy TNS

WPP Group, the world's second- largest advertising company, won conditional approval from the European Union (EU) on Tuesday to buy market research company Taylor Nelson Sofres (TNS).

The European Commission, the EU's antitrust watchdog, said in a statement that its approval was conditional upon WPP's commitment to divest Television Audience Measurement services in the EU and the TNS market research services business in Ireland.

I am satisfied that WPP's commitments will ensure that customers will not suffer as a result of this merger in terms of reduced choice or higher prices, said EU Competition Commissioner Neelie Kroes.

WPP is an international marketing communications services group. It provides services such as advertising, marketing data services, insight and consultancy, public relations and public affairs.

TNS is a global insight, information and consultancy firm which provides a full range of market research and information services.

Both are Britain-based groups globally active in the information and communications services sectors.

WPP started a hostile bid worth 2.2 billion U.S. dollars for TNS in August, which was rejected by the latter.

 

 

 

 

  

 

Source: www.portofrotterdam.com