LONDON – United States businessman Stan Kroenke moved closer towards being obliged to launch a takeover bid for Arsenal after purchasing 427 more shares in the English Premier League club.
It was announced on yesterday that Kroenke, having spent some 3.6 million pounds (5,8 million dollars), had upped his stake in Arsenal to 29,6 per cent, fractionally short of the 29,9 per cent mark that would require him to launch a takeover for Arsenal under British law.Last week the Denver-based Kroenke, already Arsenal’s largest individual shareholder, had increased his stake to 28,9 per cent after buying 10 additional shares at a cost of some 85 000 pounds (138 712 dollars). That followed his 765 000 pounds (1,249 million dollars) share purchase in the London club last month.Arsenal’s recent Annual General Meeting (AGM), Kroenke remained silent when asked about his plans.Gunners chairman Peter Hill-Wood intervened, pointing out any public statements regarding future bid intentions must be unambiguous, otherwise the individual or group would, under the rules, be prevented from making a formal move for six months. – Nampa-AFP
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