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Article: Hakuhodo takes chunk of MML: Japanese giant follows merger with minority stake in UK agency. (Agencies).(Mustoe Merriman Levy )
- Article from:
- Marketing Week
- Article date:
- December 12, 2002
- Author:
CopyrightCOPYRIGHT 2002 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hakuhodo, Japan's second-largest agency, has made a surprise move In acquiring a 49 per cent stake in London-based ad agency Mustoe Merriman Levy (MML) for an undisclosed sum.
Until now, Hakuhodo's presence In the UK has been restricted to a small London office, which primarily services the UK operations of Hakuhodo's Japanese clients, and a 50 per cent stake in Tunbridge Wells-based agency Nexus/H.
Hakuhodo's key client in the UK is Hitachi; it also carries out work for NEC's mobile phones division and Kobayashi Healthcare Europe. Two of Nexus/H's biggest clients are Honda and Suzuki.
Under the terms of the agreement, Hakuhodo will transfer its ...