WPP is about to lose its place in the key London Stock Exchange index the FTSE 100 after nearly three decades.
The global advertising group, once the largest and now in third place, has seen its market capitalisation drop to £3.1 billion from £24 billion in 2017.
The index reset takes place December 22 and is based on WPP's share price this week.
A new CEO at WPP, Cindy Rose, is reviewing operations with the help of consultants in the face of weak sales, client losses, a pull back on spend and a shrinking pitch runway.
Rose described as “unacceptable “ September quarter revenue falling 3.5% to £3.259 billion on a like-for-like basis.
In Australia, like-for-like revenue less pass-through costs was -8.5% for the September quarter. In the UK it was 8.9% and North America -6%.
Reports from broker sources in London say WPP’s low share price is attracting takeover interest.
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