NEWS19 November 2018
All MRS websites use cookies to help us improve our services. Any data collected is anonymised. If you continue using this site without accepting cookies you may experience some performance issues. Read about our cookies here.
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.
Related Articles
0 Comments