The report said the companies are advancing discussions on a potential deal that could be reached within several weeks, though there is no guarantee an agreement will be finalized.

Yum said last year it was conducting a strategic review of Pizza Hut after years of efforts to revive the restaurant chain, whose sales have remained stagnant.

Bloomberg said Pizza Hut had also attracted interest from bidders including Sycamore Partners and Apollo Global Management.

(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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