Robert Tchenguiz, the property entrepreneur, has bought a further 3 per cent stake in Mitchells & Butlers, taking his holding to slightly less than 27 per cent, writes Roger Blitz .

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.