Russian billionaire Alisher Usmanov has denied that he is about to increase his majority shareholding in Arsenal, according to reports today (December 23rd).
There is uncertainty in the Gunners' boardroom after Lady Nina Bracewell-Smith - the club's third-largest shareholder with 15.9 per cent - departed from the board last week.
Usmanov has a stake of 24.9 per cent and there have been strong rumours that he will look to buy Bracewell-Smith's shares in order to trigger a compulsory takeover offer by passing 30 per cent.
However, he said: "I have not held any negotiations with her about a purchase. I haven't seen her and so far she has not announced that she wants to sell.
"There is no point in discussing something that doesn't exist."
Despite his claim that he does not want to buy any more shares at present, he would not rule out the possibility of acquiring the 29.9 per cent 'blocking' stake, only saying that "nothing prevents us from doing that".
Arsenal recently appointed another billionaire to the board as a non-executive director - American sports tycoon Stan Kroenke, who has a 12 per cent stake in the club.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
