NEWS19 November 2018
SPAIN – WPP’s chief financial officer has claimed the company could sell off a stake of up to 80% in Kantar.
The advertising group said last month that it was reviewing its strategic options over Kantar’s ownership and that plans to sell a stake in the market research company had been approved by the WPP board.
Speaking at a conference in Barcelona on Thursday ( 15 November), WPP chief financial officer Paul Richardson said the size of WPP’s remaining stake in Kantar could range from 20% to 49% depending on the price, according to Market Watch.
The company has also identified smaller disposal targets that it is looking to offload as it cuts its debt-to-earnings ratio, Richardson said.
In late October, WPP chief executive Mark Read said WPP needed to make “tough choices” over Kantar’s future, with the best option being to sell a stake to a strategic or financial partner.
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