Robin Saunders, head of WestLB's principal finance unit, has formally denied she is involved in any group making a bid for Odeon, the UK cinema chain, which was bought last March by WestLB and a consortium for £431m (€612m).

A spokesman for Saunders said on Wednesday: "Robin is a director of Odeon and an employee of WestLB. She is not associated with any bids for the company and her duty is to act in the interest of shareholders."