Porta moves to acquire Threadneedle

International communications and marketing business Porta Communications has taken the first steps towards acquiring Threadneedle Communications, signing a contract to buy 80 per cent of the issued share capital of Threadneedle for £3.8m. Porta, previously known as sports advisory agency TSE, has said that it plans to build upon the quality of the agency, which will become Newgate Threadneedle.