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Usmanov increases Gunners stake
The Russian billionaire's Arsenal share portfoilo continues to grow.
Last Modified: 28 Sep 2007 15:10 GMT

Alisher Usmanov: Hungry for more shares [EPA]

Russian billionaire Alisher Usmanov has increased his stake in Arsenal to 23 percent.
 
Red and White Holdings Ltd., the investment company Usmanov started to purchase shares in the London club, has said that it had increased its share ownership by two percent.
 
British media reports said Usmanov paid $12.2 million for its stake.
Usmanov remains Arsenal's second-largest shareholder behind Danny Fiszman, who holds a 24 percent stake.
 
The 54 year old said last week in Russia that he wanted to gain a blocking stake in the club of 25 percent plus one share.

Should he reach a 30 percent stake he would be obliged to make a takeover offer.

On Aug. 30, Usmanov established Red and White by paying former Arsenal vice chairman David Dein about $152.1 million for his 14.65 percent holding in the club.

Red and White then appointed Dein as its chairman and said it had "committed funds" to enable it to increase its stake in Arsenal.

The company is co-owned by Usmanov and longtime business associate Farhad Moshiri, a London-based investor.


 

Source:
Agencies
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