The World: Sydney - WPP to ditch stakes in research for TNS approval

WPP is poised to divest one of its stakes in research companies in Australia in a bid to gain approval from the Australian Competition and Consumer Commission to seal its acquisition of Taylor Nelson Sofres.

Sir Martin Sorrell's group has told the commission that it would be willing to sell its stake in either AGB Nielsen or TNS in order to gain authorisation. Via its AGB Nielsen joint venture, WPP provides measurements of television audiences in Australia.

The ACCC said its inquiries regarding the acquisition indicated that other market participants were concerned about the stifling of competition in the TV audience measurement market.