C&C Group plc (LSE:CCR) shareholder Engine Capital has urged the drinks group to consider selling up. In a scathing open letter, the private investor - which owns 5% of C&C - described it as a "perennial underperformer" that had been blighted by "structural and selfinflicted problems". It called on C&C's board to review strategic alternatives, adding its belief the group could attract an offer that would represent a 58% premium on its current share trading price.

Engine Capital managing member Arnaud Ajdler said the company had "suffered from a host of self-inflicted issues". C&C's board said it "welcomes feedback. and has a clear focus on creating value".