It is understood that multimillionaire Green has held preliminary talks with the Reuben brothers, the billionaire private investors, about providing equity for the offer.
Green is working with Paul Murray, Carlton's former finance director, and David Abdoo, its former company secretary, on the bid. However no formal agreement has been reached.
Insiders in the industry claim that Green has made an offer of about £319m for the cinema chain.
Green is bidding through Tangent Industries, the company he set up with his brother David in 1963 and decided to keep as a corporate vehicle even after the launch of Carlton in case he should need it later.
Merrill Lynch, the investment bank that is handling the sale of UCI, called for the first round of bids for the cinema chain yesterday. Other bidders are likely to include: Terra Firma, the buyout firm led by Guy Hands; HgCapital, the private equity firm; Robert Tchenguiz, the Iranian property tycoon; and Vue Entertainment, owner of the rival Warner Village chain.
At present the cinema chain is a joint venture between Vivendi Universal and Viacom.
Green founded Carlton in 1983 before being pushed out by rebel shareholders last year prior to its merger with Granada. Yesterday it was reported that he has set up an office in Mayfair to consider a string of media deals.
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