Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Tuesday 01 July, 2008


Statement Re TNS

RNS Number : 0568Y
01 July 2008


1 July 2008



WPP notes the recent reports that the Bavarian Ministry of Commerce and the City of Nürnberg intend to vote against the proposed 'nil-premium' merger of GfK AG ("GfK") and TNS (the "Proposed GfK-TNS Merger")Both the Bavarian Ministry of Commerce and the City of Nürnberg are members of the GfK-Nürnberg e.V. ("GfK-Verein"), which holds approximately 57% of GfK's existing issued share capital.

As stated in the announcement of the Proposed GfK-TNS Merger on 3 June 2008, and again in the circular and prospectus published by TNS last week, the Proposed GfK-TNS Merger will only be implemented if, amongst other things, the GfK-Verein general assembly passes a resolution approving the "irrevocable" undertaking by GfK-Verein to accept the proposed offer by TNS in respect of its shareholding in GfK (the "Verein Undertaking").  Approval by the GfK-Verein general assembly is also a condition of the Verein Undertaking.

In the Verein UndertakingGfK-Verein agreed to call an assembly of GfK-Verein's members to be held no later than 4 July 2008 in order to approve the Verein Undertaking According to recent press reports, however, WPP understands that the meeting of the GfK-Verein assembly to approve the Verein Undertaking has been postponed until 21 July 2008, which is after the date of the general meeting of TNS which has been convened for 18 July 2008.

Under the terms of the Verein Undertaking, the condition requiring approval by the general assembly of GfK-Verein is deemed to be satisfied if:

  • the general assembly has approved the Verein Undertaking with a majority of 75% of the votes cast; or

  • the minutes of the meeting of the general assembly state that the chairman of the assembly has determined that the general assembly has approved the Verein Undertaking.

WPP notes recent press comment suggesting that, notwithstanding the above, the approval of the GfK-Verein general assembly is not required for the Proposed GfK-TNS Merger to proceed. This is inconsistent with the announcement of the Proposed GfK-TNS Merger on 3 June 2008, the circular and prospectus published by TNS last week and the terms of the Verein Undertaking itself. WPP also notes that, in an interview with Nürnberger Zeitung on 25 June 2008, Hajo Riesenbeck (Chairman of the Supervisory Board of GfK, President of the Chair of GfK-Verein and proposed Chairman of GfK-TNS) is quoted as saying "If the Verein comes to a negative decision then I would not continue the project".

WPP believes that delaying the GfK-Verein vote on the Verein Undertaking to after the date of the general meeting of TNS convened for 18 July 2008 is particularly material development for TNS shareholders as they will now be asked to approve the Proposed GfK-TNS Merger and related matters before knowing whether GfK-Verein's obligation to accept the proposed offer by TNS has been approved and therefore whether the Proposed GfK-TNS Merger will in fact proceed.

The Board of WPP is continuing to review the situation and a further announcement will be made as and when appropriate. 



+44 20 7466 5000

Richard Oldworth 


+44 20 7557 9971

Oliver Mann


+44 20 7628 1000

Richard Taylor

Mark Astaire (Corporate Broking)


+44 20 7268 2800

Philip Yates

Graham Davidson


James Del Favero

+1 212 902 1000

Simon Dingemans

+44 20 7774 1000

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Code and there can be no certainty that any offer will ultimately be made for TNS.    

Merrill Lynch International, Perella Weinberg and Goldman Sachs are acting exclusively for WPP in connection with the possible offer by WPP for TNS and no one else and will not be responsible to anyone other than WPP for providing the protections afforded to clients of Merrill Lynch International, Perella Weinberg or Goldman Sachs or for providing advice in relation to the possible offer by WPP for TNS or any other transaction, arrangement or matter referred to in this announcement.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of WPP or TNS, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of WPP or TNS, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of WPP or TNS by WPP or TNS, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at

"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.

This information is provided by RNS
The company news service from the London Stock Exchange

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