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.

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,

Multibillion-dollar market research group Kantar is set to be broken up and sold by owners Bain and WPP, shifting from a plan to pursue a stock exchange flotation of the company over worries about the weak market for public offerings.

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