News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Sports » Irish magnates raise Man Utd stake

Irish magnates raise Man Utd stake

December 08, 2003 22:22 IST
Get Rediff News in your Inbox:

Irish racehorse magnates J.P McManus and John Magnier have raised their holding in Manchester United to just over 24 percent from 23 percent previously, fuelling bid speculation.

Their investment vehicle Cubic Expression said in a statement on Monday that it now held 24.24 percent of Manchester United, one of the world's top sports teams.

Last month, U.S. sports entrepreneur Malcolm Glazer also raised his stake in the club to 14.31 percent.

Glazer owns Manchester United's MNU.L American Football equivalent, NFL Super Bowl champions the Tampa Bay Buccaneers, and recently met United executives to talk about the club's strategy.

However United executives said last week that they had not received any bid approaches from either stakebuilder.

Manchester United has been the subject of persistent takeover speculation since rival Chelsea was bought out by Russian billionaire Roman Abramovich in July.

Shares in Manchester United were up 1.2 percent at 269-3/4 pence on Monday at 1:20 p.m.

Get Rediff News in your Inbox:
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

INDIAN PREMIER LEAGUE 2024

INDIAN PREMIER LEAGUE 2024