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Omnicom gets control of Mudra comm

US-based advertising holding Omnicom Group has raised its 10% stake in the Anil Ambani-owned Mudra Group to a majority.

business Updated: Oct 31, 2011 20:51 IST
HT Correspondent

US-based advertising holding Omnicom Group has raised its 10% stake in the Anil Ambani-owned Mudra Group to a majority.

The acquisition of the 1,100-employee strong Mudra signals Omnicom’s India ambitions.

“This acquisition is an important step in achieving Omnicom’s strategy to extend and deepen our presence in rapidly growing markets,” said John Wren, president and CEO of Omnicom Group.

Omnicom will also handle Reliance ADA Group’s services, while Anil Ambani will join the Omnicom International Advisory Committee.