UCI, the cinema chain, has appointed Merrill Lynch to manage the sale of its business, estimated to be worth around £500m. It is believed that Robert Tchenguiz, the millionaire property investor, is preparing a bid and may even consider taking control of the Odeon cinema chain in order to merge the two businesses (subject to clearance from the Competition Commission). Cine-UK, the British chain owned by JP Morgan Capital, Botts & Co and NM Rothschild is also for sale for up to £100m.