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WPP AUNZ sells oOh!media stake

This exchange comes one month after WPP declined the opportunity to take on more shares of oOh!media

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WPP AUNZ has reportedly opted out of oOh!media by selling its 5.5% stake in the Australian OOH firm to Goldman Sachs, for $66.5 million. WPP, through Cavendish Square Holdings, had been a long-time shareholder of oOh!!media.

This exchange comes one month after WPP declined the opportunity to take on more shares of oOh!media. This development comes about just a few days following ACCC’s approval of oOh!media’s acquisition of Adshel.

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