MAM
WPP shares surge on talk of Havas buyout bid
LONDON: WPP’s battered shares sprang to life on Monday as whispers of a takeover bid sent the stock soaring as much as 6.7 per cent in morning trading.
The advertising giant’s shares touched 307.50 pence before settling at 304.20 pence—a gain of 5.5 per cent from Friday’s close of 288.30 pence. The stock opened at 302 pence.
Market chatter suggests Havas, backed by private equity heavyweights KKR and Apollo, is eyeing a move for the London-listed agency network. Neither the suitors nor WPP would comment on the speculation.
The surge offers brief respite for shareholders who have endured months of pain. WPP traded at 879 pence as 2024 drew to a close. Since then, the shares have been in freefall after a string of disappointing results left investors nursing heavy losses.
Whether today’s rally marks a turning point or merely a dead cat bounce depends on whether the rumoured bidders are prepared to put their money where the market’s mouth is.
Updated at 22:10 pm: As the day progressed the WPP scrip had rocketed up to 325.10 pence and then retreated to 319.60 pence – a sharp increase of 10.86 per cent. The stock closed the days trading at 320.10 pence – a jump of 11.03 per cent. Clearly, the share traders believe there is some truth in all the chatter about the WPP takeover.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
