Fitch London in with WPP Group

Fitch London finally passes into Sir Martin Sorrell’s hands on Friday as WPP Group formally takes control of Fitch parent Cordiant Communications Group following months of takeover wrangling.

The eventual deal valued CCG shares at around £10m, with WPP already owning the company’s £256m debt.

Active Value, the fund manager that holds 29 per cent of the equity and sought a rival bid from Publicis, is threatening legal action against CCG executives, but the future of the Fitch brand as a part of the WPP stable looks assured.