KPMG IPO likely to be delayed

KPMG, the professional services firm, is unlikely to go ahead with the initial public offering of part of its consultancy arm until next year, reflecting worries about market volatility, depressed consultancy stocks and electoral uncertainty in the US.

People close to the firm, which gained regulatory approval for the IPO last month, said it had completed the "major steps" required before flotation but wanted to wait for equity prices to settle.