UK household wealth soars on back of rising house prices and savings
at 8.56am EST
Ad boss Martin Sorrell criticises lack of masks guidance as events cancelled
Advertising boss Sir Martin Sorrell has said clients are cancelling Christmas events in response to Omicron, and criticised the UK government for failing to give sufficient guidance on masks.
Sorrell, the executive chairman of S4 Capital and the founder and former chief executive of WPP, said event cancellations had gathered pace since the new Covid variant was identified.
Sorrell told BBC Radio 4’s Today programme.
“What we are seeing our clients doing and other people [doing], the answer is they are … cancelling,”
“There has been quite a sharp series of cancellations since this happened just three, four, five days ago.”
But, business minister George Freeman says his department won’t have a big party this year. His parliamentary team will have a Zoom gathering, due to the omicron variant, he told Times Radio.
Lord Rothermere has upped his bid to take the publisher of the Daily Mail, i, Metro and New Scientist private to try to win over investors who believe he is significantly undervaluing the business.
The family, which founded the Daily Mail in 1896 and listed the parent company, Daily Mail and General Trust (DMGT), on the stock market in 1932, has upped its offer to 270p a share, valuing the newspaper business at £885m including debt.
The previous offer of 255p a share, valuing the business at £850m, prompted two top 10 shareholders – Majedie Asset Management and JO Hambro Capital Management, which control or advise on shares accounting for a combined 10.2% of DMGT – to publicly criticise the offer as woefully undervaluing the assets.
Rothermere, who has struggled to win acceptance of the deal from shareholders, has also changed the terms, so the family now needs only 50% approval from investors to delist. Those unwilling to sell will be offered shares in the private company.
Markets jittery over Omicron as Opec+ meets; UK household wealth soars – business live | Business Source link Markets jittery over Omicron as Opec+ meets; UK household wealth soars – business live | Business
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