Newspaper article The Evening Standard (London, England)

Usmanov Ups Arsenal Stake and Closes Gap on Kroenke

Newspaper article The Evening Standard (London, England)

Usmanov Ups Arsenal Stake and Closes Gap on Kroenke

Article excerpt

Byline: Simon English and James Olley

THE battle for control of Arsenal intensified today when it emerged that Russian billionaire Alisher Usmanov has been secretly upping his stake all year.

A statement to the stockmarket revealed that Usmanov's Red and White Holdings now has more than 26.07 per cent of the shares in the club. That takes him closer to Stan Kroenke's 29.9 per cent stake.

The Usmanov camp is believed to be increasingly frustrated with Kroenke's failure to make his intentions for Arsenal clear, particularly his refusal to talk at the club's AGM earlier this year. For his part, the American is said to be "unconcerned" by the Russian's latest move.

Kroenke is just shy of the 29.99 per cent threshold at which he would be obliged to make a full takeover bid for the rest of the shares under Stock Exchange rules. Usmanov's own plans have never been made clear either as he only has to declare when he has made a purchase after passing a percentage point. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.