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Remo Asatsu buys back stake

By Published on .

[Madrid, Spain] Remo Asatsu is buying back the 25% stake owned by Asatsu-DK, Japan's third-largest ad agency. Asatsu, partly owned by WPP Group, at one time handled Mitsubishi in Europe but the relationship weakened after Asatsu lost the Mitsubishi business in Japan. Remo, Mitsubishi's Spanish agency, was attracted to Asatsu partly because of the European potential for the Mitsubishi business. A spokeswoman confirmed that the Remo-Asatsu relationship is ending after a period of "disenchantment" between the two agencies.
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