WPP (NYSE:WPP) and Bain Capital plan to split market research company Kantar Group in preparation for a sale, the Financial Times reported Sunday, citing people familiar with the matter. The owners previously weighed an initial public offering for the company,

Bain Capital and WPP Plc are planning to break up and sell market research company Kantar Group, the Financial Times reported, citing people with knowledge of the matter.

In 2019, WPP sold a 60% stake in Kantar to Bain Capital, originally valuing Kantar at £3.2bn, with long-term goals to transform the market research company into a brand strategy consultancy.

If the potential $6.5 billlion sale goes through, Kantar would continue to be an independent consultancy, said news reports

Market research group Kantar's owners are exploring the sale of its Worldpanel division for 5 billion pounds ($6.5 billion) or more, Sky News reported on Sunday, while in a separate report the Financial Times said Kantar is set to be broken up and sold.