Chime Group moves into sport

Advertising business Chime Group yesterday announced that it has bought London-based sports marketing company Icon, whose customers include football regulation bodies FIFA and UEFA, for £11m ($17.7m). The transaction will be financed by a vendor placing of £7.15m and cash placing of £5.1m at 260p a share. The group is also in talks to buy a Brazilian marketing firm ahead of the next football World Cup and the Olympics, both to be held in Brazil.