WPP set to float division

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The Independent Online
WPP, the advertising group, may be considering the flotation of its market research operation, Milward Brown International. A value of more than pounds 200m has been put on the division, according to Wall Street analysts, who say that WPP is currently choosing advisers to prepare the listing.

It is believed WPP could announce its plans on Tuesday when the company unveils results showing its recovery is continuing, something that has been reflected in its rising share price, now 122p.

Despite improving fortunes - WPP is expected to report profits up from about pounds 8m to around pounds 50m - the company must reduce debt and the flotation of Milward Brown is now the most likely option to raise cash.