Tom Hunter’s West Coast Capital investment vehicle has taken its stake up to 21.4% by acquiring a further chunk of shares at 1800p a share.
It appears Sir Tom is keen to prevent Tesco from acquiring a share of Dobbies. Last week he bought 10% of Dobbies at 1750p a share, taking his consortium's holding to 20.6%.
Retail analyst Richard Ratner expressed surprise that Tesco hasn't yet raised its offer (1500p) as, 'were Hunter to get to 25%, he could frustrate the deal,' he said in a research note.
"The outcome remains extremely unclear," he added.