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,

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.