Michael Green, the former Carlton chair who was ousted from his position by shareholders, is planning a bid for the multiplex cinema chain, UCI.

The bid is likely to be made through Tangent, Green’s investment vehicle which he founded back in 1965. He has kept the name available to him even after entering the stock market with Carlton in 1983.

Tangent is backed by property-investor brothers, the Reubens, who own a number of famous buildings in London.

Green, who has held talks with Royal Bank of Scotland about providing debt finance, is not alone in the race to acquire UCI, however.

Merrill Lynch, the bank in charge of selling UCI on behalf of owners, Vivendi Universal and Viacom, has this week called for first-round bids for the cinema chain.

It is rumoured that Terra Firma, HgCapital, Robert Tchenguiz and Vue Entertainment have all entered rival bids.

Green was pushed overboard from Carlton – the business he founded – when shareholders blocked his appointment as chair of the merged ITV.

Green is understood to have received a payout in the region of £1.4m, while ITV has named Sir Peter Burt, former chief executive of the Bank of Scotland, as its chair. Details: www.uci.co.uk