Bock set for Lonrho job

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DIETER BOCK, the German financier and property developer, is expected to be appointed a deputy chairman of Lonrho, 'Tiny' Rowland's international trading group, writes John Moore.

The move follows Mr Bock's recent acquisition of a near-19 per cent stake in Lonrho through buying a substantial block of shares from Mr Rowland's personal holding and underwriting shares in a pounds 181m rights issues mounted by Lonrho to reduce its debt.

Mr Bock is understood to have been in talks with Lonrho for the past two days about his future involvement in the company. He is now Lonrho's largest shareholder.

At the time of the rights issue last December Mr Rowland said: 'I sincerely hope Mr Bock will join the board of Lonrho.'

Lonrho will report its full year figures on 11 February. At the time of the rights issue Lonrho warned that pre-tax profits would slump from pounds 205m to pounds 79m.