Vincent Tchenguiz, bother of Robert, is starting to feel the effects of the credit squeeze and is carrying out a 'repositioning' of his business. Financial Times (Saturday)
The moves come just weeks after Robert saw his £4.5bn joint venture with pub group Mitchells & Butlers unravel and his 10% stake in J Sainsbury tumble in value after bid interest from Qatar was withdrawn.
Vincent Tchenguiz said he had sold about £30m of stakes in about 50 small listed companies. 'In the wake of the credit crunch, we are currently adjusting our business model and rationalising our portfolio to reduce our exposure to equity market risk,' he said.