AdvancedAdvT (LON: ADVT) has acquired 12 million shares in advertising agency M&C Saatchi (LON: SAA) at 200p a share, which is well above the share price of 167.5p prior to the announcement. This is a 9.82% stake. The two companies share a director.

Standard listed AdvancedAdvT was previously known as Marwyn Acquisition Company 1 and the newly minted shell floated on 4 December 2020. The company had £129.2m in the bank at the end of June 2021, so this investment is less than one-fifth of that cash.

M&C Saatchi has a mixed trading record during its time on AIM. It has been prone ...