WPP buys into Vietnamese creative agency

LONDON - WPP is to acquire a 20% stake in a marketing agency in Vietnam, Smart Media Joint Stock Company.

SMJ was established in February 2008 by shareholders including Vietname Post and Telecommunications Group, Vietnam Mobile Telecom Services Company and Vietnam Television Station.

It has operations in Hanoi and Ho Chi Minh City and employs 30 people. Key clients include Mobifone, Vietnam Mobile, Vinaphone, VNPost and VNPT.

WPP has had a presence in Vietnam for more than 10 years. In 2008 its media management division GroupM took stakes in three subsidiaries of the DacvietVAC Group Holdings in Vietnam.