Rumours that lager maker Cobra is planning a flotation have been boosted by the news that investment company AM2 has the option to take a £1m stake. The lager, brewed in Bedford, is a favourite with diners in Britain's Indian restaurants. Analysts estimate that Cobra, founded by Karan Bilimoria, could be worth between £40m and £60m. The Mail on Sunday 20/03/05 (Financial Mail) page 12