WPP sold its 25 per cent shareholding, which it had picked up as part of its Cordiant acquisition, to Publicis. However, it said it will retain interests in nine ZenithOptimedia offices that were run by Cordiant under a franchise agreement. John Perriss, the worldwide chief executive of ZenithOptimedia, said WPP still retains controlling stakes in ZenithOptimedia franchises in six markets: Argentina, Hong Kong, Malaysia, Indo-China, Norway and India. However, he added that Publicis and WPP "were engaged in dialogue" over the future of these offices. Publicis, which now owns 100 per cent of ZenithOptimedia, wants either to buy the operations or, where this is not possible, to cancel the agreement. Sources close to the discussions said "there is every chance a deal will happen". This is likely to involve WPP receiving a further £10 million for selling the businesses.