VOL. XL No. 2019-May-1997


Prince Al-Walid Acquires 3% Of Cordiant Group

Saudi Prince al-Walid ibn Talal announced on 13 May that he has acquired a 3%stake of London-based advertising and marketing group Cordiant Plc. The 3%stake, worth $40mn, was acquired through the UK stock market. Cordiant is theparent company of the international media concerns Saatchi & SaatchiAdvertising Worldwide, Bates Worldwide and Zenith Media Worldwide.