WPP is in preliminary talks, as first reported by Sky News, to sell a minority stake in its China business to a consortium of Alibaba, China Media Capital CMC and Tencent.
Campaign China understands that the topic came out during a visit to China by Roberto Quarta, WPP’s chairman, and Andrew Scott, co-chief operating officer, earlier in July. However, the discussions are understood to be at a very early stage.
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