WPP eyes controlling stake in Ogilvy Kenya

Global communications firm WPP Group is eyeing a controlling stake in Ogilvy business that ScanGroup bought in 2010 through a share buyback plan.

The media giant, which owns 31.3 per cent of the Nairobi Securities Exchange listed ScanGroup, has the right to acquire one per cent of Ogilvy East Africa and two per cent of Ogilvy Africa after December 2014. The move will give it a controlling stake and voting rights in the twin firms.