WPP Submits Bid For Majority Stake In Dunnhumby
March 23, 2015 | 1 min to read
British advertising group WPP has bid for a majority stake in Dunnhumby, the customer data business put up for sale by Tesco, a person familiar with the situation said on Monday.
Dunnhumby, which gathers and analyses data from almost 1 billion shoppers globally to help companies create customer loyalty and personalization programs, has been put up for sale as part of a drive by Tesco's new boss Dave Lewis to slash costs and sell assets to mend the group's finances.
Tesco, Britain's biggest retailer, is pursuing the sale of a majority stake, rather than an outright exit or flotation, a separate source told Reuters in February.
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