WPP PLC (LSE:WPP) climbed on Friday afternoon on reports that Kantar Media, of which it owns 40%, is set to be sold this year.
Kantar Media, itself a division of the market research firm, is to be put up for sale by majority owner Bain Capital in the coming months, according to Sky News.
The 25,000 employee-strong unit could fetch as much as £1 billion, Sky added, quoting an industry insider.
Investment bankers are said to be in the process of being appointed to explore the sale, with an auction tipped for this year.
Kantar Media manages Britain’s television audience measurement system, BARB, and is contracted to do so until 2029.
The company has been controlled by Bain since 2019, when it acquired a 60% stake in Kantar, with FTSE 100-listed WPP owning the remainder.
Shares in WPP jumped 4.5% to 775.20p on the news.