Industrial holding group Fitzwilton is now expected to acquire Morgan Stanley's remaining stake in Waterford Wedgwood before the end of this month for around £23 million.

Earlier, Fitzwilton sources had indicated that its option to acquire the remaining Morgan Stanley stake had expired at the end of March, but it is now understood that the option will be exercised at around the same £23 million paid by Mr Peter Goulandris for a similar sized stake late last month.