Hakuhodo takes stake in U.K. shop

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[london] Hakuhodo, Japan's second biggest ad agency after Dentsu, is buying 49% of independent London agency Mustoe Merriman Herring Levy, to be renamed Mustoes. The deal comes a week after Hakuhodo announced plans to form a joint holding company in Japan next year with two other top 10 Tokyo agencies, Daiko and Yomiko, to better compete with Dentsu.
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