02:54 PM EDT, 06/25/2024 (MT Newswires) -- Interpublic Group (IPG) is in discussions to sell digital agency R/GA to Tata Consultancy Services for an estimated $300 million, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

Terms of the deal have not been determined yet and the parties have not agreed on valuation, sources told the Journal, adding that the deal could also fall apart.

The companies are also exploring a strategic alliance, potentially collaborating on mutual clients in the artificial intelligence and data sectors, according to the report.

Interpublic and Tata Consultancy Services did not immediately respond to MT Newswires' requests for comment.

Shares of Interpublic were down 1.6% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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