Shares in ad giant WPP fall amid breakup speculation

LONDON — Shares in WPP, the world's biggest advertising company, have fallen as much as 5.6 percent amid speculation it will be broken up after the resignation of CEO Martin Sorrell.

Sorrell, who built WPP into a conglomerate during his 33 years at the helm, stepped down after an investigation into allegations he misused company assets. He denies any wrongdoing.

Liberum analyst Ian Whittaker says Sorrell was the "glue that bound much of WPP together," and the company may now look to sell its market research and PR divisions. He says there'll also be speculation about whether WPP will sell stakes in associated businesses, as it did with its ownership in Japanese ad firm Asastu-DK.

The resignation Saturday of WPP's 73-year-old founder comes as the advertising industry faces pressure from online marketing.

Garber talks MLS expansion, relocation in annual...

Dec 8, 2017

MLS Commissioner Don Garber says it's 'conceivable' new expansion team could join league before...

Police say Canadian billionaire, wife apparently...

Jan 27, 2018

Police say they believe Canadian billionaire businessman Barry Sherman and his wife were both...

Barrick Gold founder Peter Munk dies in Toronto...

Mar 28, 2018

Peter Munk, a Canadian immigrant who founded Barrick Gold and turned it into the world's largest...

Trump to find a chilly host in Canada visit amid...

Jun 8, 2018

Trump has angered allies just as he makes first visit as president to Canada for a G-7 summit

Trump throws G-7 into disarray with tweets after...

Jun 10, 2018

Trump throws G-7 summit into disarray, tweets that US is pulling back its endorsement of group's...

Financial Markets

Market Sanctum is one of the world’s leading news sources for the currency trading community. Our analysts report on the latest changes in the current market, providing in-depth analysis.

Contact us: sales[at]marketsanctum.com