Tuesday, June 21, 2011

Alisher Usmanov defies Stan Kroenke to take Arsenal stake beyond 29%

? Uzbek billionaire has made announcement to stock exchange
? Has been critical of club's six-year trophy drought

Alisher Usmanov has increased his shareholding in Arsenal beyond the 29% mark.

The Uzbek billionaire is the second biggest shareholder in the club behind the American Stan Kroenke, whose holding recently increased to 66.1%, triggering a compulsory offer for the remaining shares.

Usmanov declined Kroenke's offer of �11,750 per share, making made his own offer to buy out small investors at �14,000 per share, and has recently been critical of the Arsenal board's role in the club's failure to win a trophy for six years.

Usmanov's Red and White Holdings company announced in a statement on the London Stock Exchange's Regulatory News Service: "Red & White Securities Limited ('Red & White') today announces that it now holds a stake of over 29% in Arsenal Holdings plc ('Arsenal')."


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