Robert Tchenguiz is to be offered a seat on the Mitchells & Butlers (M&B) board, it has been reported. Several papers stated at the weekend that the announcement will be made by M&B tomorrow when it unveils the results of its review. Tchenguiz's seat is likely to be taken by Tim Smalley or Aaron Browne. It has also been reported that M&B chief executive Tim Clarke will not rule out further investigations in to Real Estate Investment Trust (Reit) conversion.