Notes 26-31

29. Principal subsidiary undertakings

The principal subsidiary undertakings of the Group are:

  Country of Incorporation
Grey Global Group, Inc US
J. Walter Thomson Company, Inc US
GroupM Worldwide, Inc US
The Ogilvy Group, Inc US
Young & Rubicam, Inc US
Taylor Nelson Sofres plc UK

All of these subsidiaries are operating companies and are 100% owned by the Group.

A more detailed listing of the operating subsidiary undertakings is given in Our companies & associates. The Company directly or indirectly holds controlling interests in the issued share capital of these undertakings with the exception of those specifically identified.

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