KKR approached WPP about taking majority control over FGS, FT reports

KKR (KKR) has approached U.K.-listed advertising group WPP (WPP) about acquiring majority control of FGS Global, a financial communications business, the Financial Times’ Arash Massoudi and Daniel Thomas report, citing people with direct knowledge of the discussions. The approach, which occurred in the past few months, was dismissed by WPP, which holds a roughly 55% interest in FGS, the authors say, noting that the private equity firm already owns roughly 30% of FGS.