Tech mogul Vin Murria snaps up a 9.8% stake in M&C Saatchi for £24m

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Tech mogul Vin Murria snaps up a 9.8% stake in advertising group M&C Saatchi for £24m

By Daily Mail City & Finance Reporter

Published: | Updated:


An acquisition vehicle led by one of Britain’s most prominent technology tycoons has snapped up a 9.8 per centstake in advertising group M&C Saatchi for £24million.

AdvancedAdvt – which is run by entrepreneur Vin Murria – said buying 12m shares was ‘a good investment opportunity’.

It will fuel speculation that Murria, 60, is looking to buy M&C Saatchi as it recovers from an accounting scandal in 2019.

AdvanceAdvt – which is run by entrepreneur Vin Murria (pictured) – said buying 12m shares in Saatchi was ‘a good investment opportunity

Murria found fame in the City after overseeing the transformation of Advanced Computer Software from a £12million business in 2008 into a giant valued at £750million when it was sold in 2015.

She already owns a 12.5 per cent stake in M&C Saatchi in her own name and was appointed the company’s deputy chairman last year.

Murria is now overseeing a 22.3 per cent stake in the group worth £51million.

M&C Saatchi’s stock rocketed by 12.8 per cent, or 21.5p, to 189p last night to value the company at around £230million.

The stock has risen six-fold since its 2020 low but remains down more than 50 per cent from its 2018 peak.

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