Business | Investment

Russian billionaire raises stake in Arsenal

Billionaire Alisher Usmanov has increased the amount of shares he owns in Arsenal Football Club by around one per cent to more than 24 per cent, the company representing him said.

  • Reuters
  • Published: 00:32 February 16, 2008
  • Gulf News

London: Billionaire Alisher Usmanov has increased the amount of shares he owns in Arsenal Football Club by around one per cent to more than 24 per cent, the company representing him said.

Red and White Holdings, the investment vehicle for the Russian businessman which has David Dein as its chairman, said it now holds over 24 per cent in Arsenal Holdings, having held 23 per cent since last September.

Red and White would be required to launch a takeover for the club, the Premier League leaders, under London Stock Exchange rules once it has 30 per cent of the shares.

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