7/23/2018, 5:28 AM (Source: TeleTrader)
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WPP considers selling stake in its Chinese unit - report

British advertising company WPP is considering selling a minority stake in its Chinese unit to Alibaba, Tencent and China Media, the Financial Times reported.

The talks are at an early stage and it could take months to finalize. Under the potential deal, first reported by Sky News, WPP would transfer its operations to a new holding company and the new investors would share a 20% stake. WPP China-based business is valued at around $2 billion.

Baha Breaking News (BBN) / KP