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TODAY'S OTHER NEWS

All eyes on Purplebricks to see if share changes continue

All eyes will be on Purplebricks today to see if there is further development in what some believe is a long-term change in ownership of the company. 

Yesterday the beleaguered fund manager Neil Woodford reduced his interest in the company from 19.25 per cent to 17.64 per cent. As recently as early June Woodford owned almost 29 per cent.

Only last week shares in Purplebricks shot up following speculation that the German publishing giant Axel Springer was considering buying it; that company is already the largest investor by some margin, with over 26 per cent of its shares.

In the spring Axel Springer effectively doubled its stake in the agency when it bought the shares of founders Michael and Kenny Bruce, and Michael’s wife Isabel.

If the latest shares sold by Woodford have been bought by Axel Springer, an announcement to shareholders is likely today.

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