[QODLink]
Sport
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
Topics in this article
People
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
The Khmer Rouge tribunal is set to hear genocide charges for targeting ethnic Vietnamese and Cham Muslims.
'I'm dying anyway, one piece at a time' said Steve Fobister, who suffers from disabilities caused by mercury poisoning.
The world's newest professional sport comes from an unlikely source: video games.
The group's takeover of farms in Qaraqosh, 30km from Mosul, has caused fear among residents, and a jump in food prices.
Protests and online activism in recent months have brought a resurgence of ethnic Oromo nationalism in Ethiopia.
join our mailing list