A New York-based activist investor has called for change at Wagamama owner The Restaurant Group after taking a 3% stake.

In an intervention that piles extra pressure on chief executive Andy Hornby, Coltrane Asset Management called on TRG to be “open to all strategic options”.

Coltrane said it supported proposals by another activist investor, Oasis, which has built a 12 per cent holding in TRG in recent months. The Hong Kong-based Oasis wants the London-listed hospitality chain to sell off its Brunning & Price pubs and airport concessions business.

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