The Week: City news - TNS/WPP in merger talks

The TNS boss David Lowden and Sir Martin Sorrell, the chief executive of WPP, are reported to have met to discuss the possibility of a takeover deal.

It is thought that the pair discussed potential savings as a result of any deal, which Sorrell estimates at around £52 million. While the meeting provides a signal that TNS is relaxing its hostility to WPP's interest, Lowden is also reported to have asked TNS's advisors Deutsche Bank to sound out other potential buyers, including rival Nielsen and the US private equity company Hellman & Friedman.