GfK says drops plans for TNS bid

FRANKFURT (Reuters) - Germany's GfK Holdings AG (GFKG.DE) said on Wednesday that it has decided not to bid for market research group Taylor Nelson Sofres TNS.L.

"The terms of the financing available did not enable a sufficiently compelling alternative cash offer to be made for TNS," GFK said in a statement.

WPP Group (WPP.L), the world's No. 2 advertising and marketing firm, has offered $2.2 billion in cash and shares in a hostile bid for TNS, which has said it would prefer to link up with GfK.

(Reporting by Peter Dinkloh)