Bass not commenting on reports of alliance
Bass PLC refused to comment on a reports it is teaming up with Millennium & Copthorne PLC to make a joint bid for Forte Hotels Group.
The Sunday Telegraph said the two groups are to sign an agreement this week to make a 3.5 bn stlg bid for Forte Hotel group, owned by Granada Compass PLC. The Forte chain includes the Le Meridien operation which M&C is expected to buy whilst selling its own Copthorne Hotel chain to raise about 200 mln stg for the bid.
Bass, meanwhile, is reportedly to sell 1,000 pubs to L&G Ventures to raise 685 mln stg. It is also expected to take on some Le Meridien properties and rebrand them as their own Inter-Continental and Crowne Plaza brands, the paper said. M&C was unavailable to comment.