Robert Tchenguiz has bought a further 3% stake in Mitchells & Butlers, taking his holding to slightly less than 27%, writes Roger Blitz. Financial Times, Daily Telegraph

The purchase was made from AllianceBernstein, the global asset management company. The stake increase comes less than two weeks before the pub group, which operates the All Bar One, Harvester and O’Neills chains, is scheduled to announce the outcome of its strategic review.

Tchenguiz, who wants M&B to realise the value of its property assets, has been in conflict with M&B’s management, which has been talking to a number of private equity groups about taking stakes of up to 29.9% in the business.