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LONDON May 17 Britain's Financial Services Authority is probing potential insider dealing in the shares of pub companies Punch Taverns (PUB.L) and Enterprise Inns (ETI.L), the Daily Telegraph newspaper reported without citing sources.
The Telegraph said the FSA was scrutinising falls in the share price of both companies on May 12, the day before publication of a report by MPs calling for the competition regulator to probe an aspect of their business model.
The report by the Business and Enterprise Select Committee said the so-called "beer tie" -- under which pub tenants are forced to buy beer exclusively from their landlords -- should be looked at the by the Competition Commission. [ID:nLD102181]
An FSA spokeswoman declined to comment. No one was immediately available at Punch Taverns and Enterprise Inns. (Reporting by Myles Neligan; Editing by Steve Orlofsky)