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Alibaba, Tencent in talks for WPP China stake

  • Chinese conglomerates Alibaba (NYSE:BABA) and Tencent (OTCPK:TCEHY) are involved in talks to buy a roughly 20% stake in the Chinese unit of WPP, the world’s biggest advertising group.
  • The deal would value the business between $2B-$2.5B, Sky News reports.
  • It comes as WPP goes through a leadership change, with founder Martin Sorrell leaving in April following a complaint of personal misconduct.

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