Business | Investment

Hicks blocks DIC in Liverpool FC bid

Liverpool co-owner Tom Hicks said he has "decided to terminate" talks with Dubai International Capital over a takeover of the Premier League football club.

  • Agencies
  • Published: 16:22 March 10, 2008
  • Gulf News

  • Hicks said talks broke down over who should be running the club.
  • Image Credit:

Dubai: Liverpool co-owner Tom Hicks said he has “decided to terminate'' talks with Dubai International Capital over a takeover of the Premier League football club.

According to Hicks, talks broke down with DIC over a dispute about who should be running the club.

"Based on a meeting held earlier today in Dubai between my representatives and officials of DIC, as well as other recent contacts between us and them, I have decided to terminate any further discussions with DIC regarding their possible purchase of a minority stake in Kop and, in turn, in the club," Hicks said in a statement posted on the club's website.

As hopes of a deal with DIC faded, Hicks said he will step up his search for another investor to buy out co-owner George Gillett's stake.

On Monday, a British newspaper reported the battle for the control of Liverpool could be heading for a finish as DIC was prepared to accept a 49 per cent stake.

DIC had said earlier that it was still in “advanced'' stages of talks, but didn't indicate if it was attempted to buy a controlled stake in the club. It had tried to buy the club outright three years ago.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. DIC for joint control of Liverpool

    DIC for joint control of Liverpool

    DIC acceptance of 49% stake in Liverpool could resolve battle

More from Investment

  1. Diversifying as solution to a declining currency

  2. Gold and China seem good bets

  3. Controlling risk through managed account

  4. Carrefour to operate hypermarket in Cairo

All articles in Investment

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice