England

Stan Kroenke Ups Stake In Arsenal To 29.9 Per Cent

American nears magical 30% figure...

Nov 5, 2009 9:19:24 AM

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Stan Kroenke has purchased more shares in Arsenal. The American entrepreneur now owns 29.9% of the club's shares, as confirmed by the Stock Exchange this morning.

That takes him even closer to the 29.99% he requires in order to be compelled to launch a takeover bid.

Reuters report that he has purchased 200 more shares at a cost of £8,500 per share.

It is also reported that 100 of the new shares were bought from Arsenal chairman Peter Hill-Wood.

Hill-Wood now has a beneficial interest in, and controls voting rights over, 400 shares, a figure which represents 0.6% of the issued shares.

Zack Wilson, Goal.com UK