LONDON (dpa-AFX) - WPP plc (WPP.L, WPPGY) reported Thursday the acquisition of a 75 percent stake in Union Media Israel Ltd. by its subsidiary Shalmor Avnon Amichay Advertising Ltd., which is a part of Y & R Advertising. The financial details of the transaction were not revealed. The company noted that the purchase furthers its strategy of developing networks in 'fast growing' markets. As of December 31, 2011, Union had unaudited revenues of 21.7 million New Israeli Shekel and gross assets of 55 million New Israeli Shekel.
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