Cobra beer, the company founded by Lord Karan Bolimoria, is being tipped as a potential bid target for larger rivals including SABMiller and InBev, according to The Times. The speculation follows the collapse of talks with Diageo, which had been planning to buy a 30% stake in the beer business. Bolimoria has secured a funding package worth about £15m for international expansion and sources close to the brewer believe that the company is looking to pursue an outright sale in the near future.