In what might be seen as an opportunistic bid, Punch Taverns have proposed a 50/50 merger with M&B, still reeling from the losses I reported on last week. This revives news I first reported on in November here, where you can read my views.
Is it really in anyone's interest for one pub company to own 10,000 pubs? For most of us, not involved in financial speculation, a resounding "no" is the answer. Given Punch's lack of support for small brewers, expect choice to contract in the (unlikely) event that this bid succeeds.
Of course this will have to be financed. Who'll pay for it? At least in part, we the drinker will.
If you want to read more about the shenanigans that got M&B into this sorry state, this is good!
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