Legal and General Investment Management, the UK's largest asset manager, has said it is “unlikely” to participate in the stock market flotation of Deliveroo next month, becoming the latest large scale investor to shun the food delivery company because of concerns over workers’ rights.

It's the latest blow after Aberdeen Standard Investments said will not invest in the IPO. The Edinburgh-headquartered asset manager, which oversees £535bn, had earlier said it is concerned about the sustainability of Deliveroo’s business model “including but not limited to its employment practices”.