The proposal to split into two businesses was announced in November 2019 and was initially expected to complete in November this year, but the process has been delayed largely due to the temporary closure of government agencies as a result of the Covid-19 pandemic.

When Nielsen first announced the plan, it said the separation would ensure a sharper strategic focus and competitive advantage.

Nielsen intends to structure the proposed separation as a distribution to Nielsen shareholders of 100% of the shares of a new entity that holds the Nielsen Global Connect business.

The company expects the separation of the businesses to complete in the first quarter of 2021, but it is subject to conditions including approval from the board and a ruling regarding how the spin-off is treated in terms of US federal income tax.

David Kenny, chief executive officer, Nielsen, said: "Our filing is an important step in the process to create two independent, leading companies executing distinct growth strategies. The separation will position each of the businesses to better leverage their unique competitive advantages and serve distinct end markets, while ensuring that they are best positioned to realise their full value."