WPP AUNZ sells oOh!media stake

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

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.