Stan Kroenke increases Arsenal shares to move closer to takeover

15 October 2009 16:10
The businessman, who joined the club's board in September last year, has purchased 90 additional shares at £8,500 each to add a further 0.2 per cent to his existing holding. A club statement read: "Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,957 ordinary shares in the Company - representing 28.9 per cent of the company's issued ordinary shares." The Denver Nuggets basketball team owner is the Gunners' largest shareholder, with Uzbek businessman Alisher Usmanov also holding a share of more than 25 per cent. If Kroenke reaches a 29.9 per cent threshold it will trigger a formal takeover bid.

Source: Telegraph