It is holding discussions with its three aligned agency groups, Interpublic, WPP and Publicis, and is in the process of appointing a media auditor to help oversee the review.
It is not clear if Nestle is seeking to consolidate all of its various businesses into one agency network. The breadth of its business, ranging from Nescafe to Aero, means consolidation would risk clashes.
MindShare is the incumbent on the bulk of the UK account. It handles the confectionery and coffee business, while cereals and water is with Universal McCann. OMD UK handles the petfoods division. MindShare's global alignment with Kellogg rules it out of Nestle's cereals portfolio.
A Nestle spokesman said a media review was underway, but would not say whether the account would be consolidated into one network. "There is a global challenge to assess media and find a unique solution that is appropriate for our local markets," he added.