Negotiations over a sale of the asset management boutique jointly founded by Jacob Rees-Mogg and Lord Johnson have stalled, Sky News understands.
A multimillion-pound payout to Jacob Rees-Mogg, the former business secretary, is in jeopardy amid faltering talks about a sale of the asset management business he cofounded.
Industry insiders suggested this weekend that a deal between Somerset and Emso, which could value the former business at roughly £30m, were now unlikely to result in a deal. Somerset is a specialist investor in emerging markets-based companies, an area that has been severely hit by deteriorating sentiment as confidence in the global economy has waned.
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