Punch Taverns, Scottish & Newcastle Pub Enterprises and Robert Tchenguiz have been linked to a possible three-way bid for Spirit Group. The rumour, reported in The Times, is the latest to surround Spirit, whose owners have yet to confirm a sale. Punch Taverns has also been rumoured to be considering a £2.5bn joint bid for Spirit with Mitchells & Butlers. Earlier this week Robin Saunders, the former WestLB banker who last year set up Clearbrook Capital Partners, was reported to be considering a £3bn bid for the company. A move would potentially put Saunders in competition with Robert Tchenguiz, who is thought to be working on a bid for Spirit. Mitchells & Butlers and Punch Taverns have also been linked to a joint £2.5bn bid for the group. An IPO has not been ruled out by Spirit’s owners Texas Pacific, Blackstone and CVC Capital and Merrill Lynch.