A new report from advisory firm PwC has warned firms looking to make deals in emerging markets of the high failure rate and increased costs associated with abandoned acquisitions, at a time when many private equity firms are targeting developing economies.

The report 'Getting on the right side of the delta: a deal-maker's guide to growth economies' said the value of emerging market deals made by all western companies hit £140bn last year, but that more than half of the deals that entered external due diligence did not reach completion.