International advertising agency Omnicom Group has bought design consultancy Newell and Sorrell and will merge it with Interbrand UK, the international branding company it already owns, the companies said. Interbrand UK and Newell and Sorrell will merge to become Interbrand Newell and Sorrell by early 1998 and will have a staff of 200 in the UK and a turnover of 20 million pounds ($32.3 million), they said. John Sorrell, currently chairman of Newell and Sorrell, is to become chairman of the newly merged business, which will be part of Omnicom's Interbrand Group.

National MF welcomes Crown management deal: Australia's National Mutual Funds Management (NMFM) on Monday welcomed casino owner Crown Ltd's deal to buy the management rights to its own operation. NMFM's Australian shares manager, Paul Jennings, said the purchase price of A$290 million was reasonable.

Saudi prince to buy 30% Moevenpick unit: Saudi Arabia's billionaire prince Al-Waleed bin Talal said on Monday he has signed an agreement to purchase a 30-per cent interest in Moevenpick Hotels and Resorts, a unit of Moevenpick AG. A statement from the prince's office in Riyadh said he will also forge an alliance with Moevenpick AG, which owns the remaining 70 per cent of the hotel unit.

It did not give a value of the deal. "The new arrangement will result in Moevenpick Hotels and Resorts reorganising business to create a holding company to provide hotel management services through management contracts or operating leases for Moevenpick-branded hotels worldwide," the statement said.

Disney, Jacor subject of speculation: Walt Disney Co and Jacor Communications Inc are the subjects of speculation of another merger in the rapidly consolidating radio station business, according to reports. Walt Disney chairman Michael Eisner is considering an exit of the radio business by selling its ABC radio network to Jacor for as much as $2 billion, the reports said. On the other hand, Eisner may opt to build the ABC radio network by acquiring Jacor, it added. Disney and Jacor were not immediately available for comment.

Sarawak lost $297m in smog emergency: Malaysia's smog-hit state of Sarawak lost 100 million ringgit ($29.7 million) a day during last month's 10-day state of emergency according to media reports. The losses were suffered by the private and public sectors, the government and individuals, the reports quoted Sarawak's chief minister Abdul Taib Mahmud as saying. He did not provide details. The state of emergency in Sarawak, on the Malaysian side of Borneo island, was declared on September 19 when smog from burning forests in neighbouring Indonesia reduced visibility to a few metres.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.