Punch Taverns is thought to be keen to sell its managed division.
It shares lost 40p to close at £10.72.
Other pubcos also lost value, with Enterprise Inns dropping 15p to 632p and Greene King down 22½p to 942p.
The Daily Telegraph 4/8/07 page 33 (The Market, Business)
The Independent 4/8/07 page 56 (Market Report, Business)