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TODAY'S OTHER NEWS

 Purplebricks: Woodford sells another slice prompting new speculation

Troubled star fund manager Neil Woodford has sold another slice of his share in Purplebricks, prompting further speculation about the future ownership of the agency.

In an announcement to shareholders and the City this afternoon it was revealed that his company Woodford Investment Management Ltd, based in Oxford, had reduced its share in the company from 19.25 per cent to 17.64 per cent.

As recently as early June Woodford owned almost 29 per cent of the company.

It is unknown who has bought Woodford’s latest sell off but there is growing speculation that the Germany publishing giant Axel Springer - already the largest shareholder with over 26 per cent - is interested in purchasing the troubled agency.

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 tomorrow.

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