The initial public offering of M&C Saatchi, the UK advertising company being floated by Conservative peer Lord Saatchi and his brother Charles, is back on track after a row with an undisclosed party threatened to derail the launch.

M&C Saatchi had held merger talks with the party which came to nought, but on Thursday that undisclosed party made a legal claim relating to these discussions which caused M&C Saatchi to delay the launch of the issue.