Published on Wed, Jul 04, 2007 at 09:26 | Source : Moneycontrol.com
Updated at Thu, Jul 05, 2007 at 17:07
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IPG to buy Redington's 49% stake in FCB Ulka
After buying out the remaining 51% in Lintas India, US-based the Interpublic Group, or IPG, now wants to completely own another IPG agency in India, that's FCB Ulka. IPG holds 51% in it and Singapore-based Redington, a company that supplies computer peripherals, owns the rest.
After buying out the remaining 51% in Lintas India, US-based the Interpublic Group, or IPG, now wants to completely own another IPG agency in India, that'sFCB Ulka. IPG holds 51% in it and Singapore-based Redington, a company that supplies computer peripherals, owns the rest.
Stephen Gatfield, Executive Vice President - Network Operations, IPG, confirmed to CNBC-TV18 that discussions were on. "That is one area which is a high priority for us. Discussions are ongoing in that area and that's a key development for us," he said.
On how soon can we expect an announcement, Gatfield said, "Certainly, within the course of this year."
After buying out the remaining 51% in 
