Ascential to sell consumer trends unit - report

Ascential shares spiked higher on Wednesday following a report that the data and analytics company, which is undergoing a major restructuring, has hired JPMorgan Chase & Co. for a sale of its consumer trend-spotting business.

Bloomberg cited people familiar with the matter as saying that a potential sale of the WGSN unit, which offers paid-for subscriptions and bespoke consultancy services to help companies understand customer trends, could fetch about $1bn or more.

Sources said the business is likely to draw interest from private equity firms. It was understood that deliberations are in the early stages and no final decisions on a sale have been made.

At 1155 GMT, the shares were up 3% at 273.01p.

A spokesperson for Ascential declined to comment on the story.