Tchenguiz denies Mitchells & Butlers share sale

07 November 2007 by
Tchenguiz denies Mitchells & Butlers share sale

Robert Tchenguiz has hit out at "unfounded speculation" linking him with the sale of his stakes in managed pub operator Mitchells & Butlers (M&B) and J Sainsbury's.

The investor, though his investment vehicle R20, holds a 14% stake in M&B and more than 76 million shares.

Tchenguiz said: "Unfounded speculation is a disservice to other shareholders. Both companies have significant value in excess of current valuations and both have a strong future."

He added that as a significant shareholder he and his investment vehicle R20 would continue its policy of working with the M&B board in order to realise its potential for attractive shareholder returns.

Tchenguiz was forced to abandon a £4.5b property joint venture with the operator back in September due to the current global credit crunch.

Irish duo build M&B stake >>
Mitchells & Butlers confirms Tchenguiz joint venture >>

Mitchells & Butlers profile >>

By Christopher Walton

E-mail your comments to Christopher Walton]( denies Mitchells & Butlers share sale) here.

[The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking