Football Clubs News | Football Finance News
Uzbeki billionaire Alisher Usmanov has again increased his stake in Arsenal, it was confirmed yesterday (February 16th).
Red and White Holdings Limited, which Usmanov owns with London-based investor Farhad Moshiri, has upped its holding in the north London club to 25 per cent.
As a result, the company is now just five per cent short of the minimum 30 per cent stake which would oblige it to make a formal takeover offer under Stock Exchange rules.
"[The increase is] in line with Red and White's previously stated intention to secure a significant shareholding in Arsenal and ensure that its position is protected," read a statement.
"We are pleased to have now secured over a quarter of the shares of Arsenal."
Red and White's involvement has drawn a frosty reception from some Gunners fans and the board, who have signed a 'lockdown' agreement until April to prevent their shares being bought by Usmanov.
However, Lady Nina Bracewell-Smith, who holds a 15.9 per cent stake, departed the board in December and there are rumours that she would be prepared to sell to the billionaire at the right price.
Usmanov was convicted in August 1980 of "complicity in an official's receiving bribes and extortion" after relieving an army officer of 30,000 roubles and spent five-and-a-half years in a labour camp.
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21 October 2010
21 October 2010
21 October 2010
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20 October 2010
