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Vince Cable wades into row over boardroom stand-off at M&B
LIBERAL Democrat Treasury Spokesman Vince Cable yesterday stepped into the shareholder row at pubs group Mitchells & Butlers by writing to the financial services watchdog voicing his concerns.
The Takeover Panel on Friday rejected a claim by the pubs group that its biggest shareholders – billionaire currency trader Joe Lewis and the investment vehicle controlled by Irish tycoons JP McManus and John Magnier – were trying to seize control of the company.
Cable said the allegation of collusion by shareholders had to be investigated. “I have written to Lord Turner at the Financial Services Authority to establish that any alleged activity against the interests of the majority of the investors is properly policed,” he said.