Permian Investment Partners is gambling that the current problems at Sir Martin Sorrell’s advertising firm S4 Capital will prove to be short-lived, according to a report by The Financial Times.
The New York-based hedge fund upped it holding in the company to 4.1 per cent after its market value tumbled by a third on the back on news that PwC was unable to complete an audit leading to a delay in the publication of S4 Capital’s financial results.
The report quotes an unnamed analyst as saying that s4 Capital had been “eerily and worryingly silent” over the reason for the delay.
