Shares in Aegis Group were up on the FTSE 250 in morning trading after the marketing group confirmed it was considering the sale of its market research business Synovate.
In response to speculation in the press, Aegis issued a statement confirming that it was "in discussions with Ipsos in relation to a potential transaction".
Aegis emphasised that there was "no certainty" that any deal would be agreed.
Nonetheless the news appeared to send Aegis shares soaring.
By 09:00 shares in Aegis Group were up 6.94 per cent on the FTSE 250 to 151.00 pence per share.