Active Value Advisors, the activist fund manager, has dragged the UK Department of Trade and Industry (DTI) into the conflict over investors' interests that has arisen from the £10m (€14m) takeover of Cordiant Communications, the troubled UK advertising agency.

Active Value, which owns 28% of Cordiant's share capital, was fiercely opposed to the company's acquisition by WPP, but was forced to vote in favour of the offer on Wednesday at a scheme of arrangement meeting of Cordiant shareholders. More than 99% of shareholders, who have seen their investments plummet in value by almost 97% in the past year, voted for the proposed acquisition.