Vincent Tchenguiz has withdrawn his interest in Erinaceous, the troubled property services group. Financial Times.

His Consensus Business Group vehicle had left open the possibility of an offer at the start of October, but said yesterday that it now had no intention of doing so.

Shares in Erinaceous fell 10p to 24½p, valuing the company at £26m. At its peak, it was valued at more than £400m.

Fursa, the hedge fund that has a 19% stake and is thought to have wide support from other shareholders, has threatened to call an EGM to force through changes.

Last week, Erinaceous appointed Dominic Lavelle, a former finance director at Alfred McAlpine, as finance director. Tom Griggs.